Cardiol Therapeutics (NASDAQ:CRDL) Upgraded by Roth Capital to Strong-Buy

Cardiol Therapeutics (NASDAQ:CRDL) was upgraded by analysts at Roth Capital to a “strong-buy” rating in a research note issued on Wednesday, Zacks.com reports.

CRDL has been the topic of a number of other reports. Roth Mkm assumed coverage on shares of Cardiol Therapeutics in a research report on Wednesday. They set a “buy” rating and a $10.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of Cardiol Therapeutics in a research note on Friday, June 14th. Canaccord Genuity Group increased their price target on Cardiol Therapeutics from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, Canaccord Genuity Group upped their price objective on Cardiol Therapeutics from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $7.60.

Cardiol Therapeutics Stock Performance

NASDAQ CRDL opened at $2.05 on Wednesday. The company has a market cap of $141.45 million, a P/E ratio of -5.86 and a beta of 0.99. The company has a fifty day simple moving average of $2.19 and a 200 day simple moving average of $1.64. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 0.01. Cardiol Therapeutics has a 12-month low of $0.66 and a 12-month high of $3.12.

Cardiol Therapeutics (NASDAQ:CRDL) last issued its quarterly earnings data on Tuesday, May 14th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). Sell-side analysts predict that Cardiol Therapeutics will post -0.33 earnings per share for the current fiscal year.

Institutional Trading of Cardiol Therapeutics

An institutional investor recently raised its position in Cardiol Therapeutics stock. Laird Norton Trust Company LLC boosted its position in Cardiol Therapeutics Inc. (NASDAQ:CRDL) by 63.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 100,000 shares of the company’s stock after acquiring an additional 38,673 shares during the period. Laird Norton Trust Company LLC owned 0.15% of Cardiol Therapeutics worth $90,000 as of its most recent SEC filing. Institutional investors own 12.49% of the company’s stock.

About Cardiol Therapeutics

Cardiol Therapeutics Inc, a clinical-stage life sciences company, focuses on the research and development of anti-fibrotic and anti-inflammatory therapies for the treatment of heart diseases. Its lead product CardiolRx, which is in Phase II multi-national, randomized, double-blind, and placebo-controlled study to evaluate the efficacy and safety of CardiolRx in acute myocarditis, as well as for the treatment of recurrent pericarditis.