Brokerages Set Cardiol Therapeutics Inc. (NASDAQ:CRDL) Price Target at $7.60

Shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) have received a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $7.60.

A number of equities analysts have commented on CRDL shares. Canaccord Genuity Group boosted their price objective on Cardiol Therapeutics from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Canaccord Genuity Group boosted their price objective on Cardiol Therapeutics from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Roth Mkm started coverage on Cardiol Therapeutics in a research note on Wednesday. They issued a “buy” rating and a $10.00 price objective on the stock. Roth Capital raised Cardiol Therapeutics to a “strong-buy” rating in a research note on Wednesday. Finally, HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Cardiol Therapeutics in a research note on Friday, June 14th.

Cardiol Therapeutics Price Performance

Shares of CRDL stock opened at $2.02 on Wednesday. The stock’s fifty day simple moving average is $2.21 and its 200 day simple moving average is $1.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.81 and a quick ratio of 2.81. The firm has a market cap of $139.38 million, a price-to-earnings ratio of -5.77 and a beta of 0.99. Cardiol Therapeutics has a one year low of $0.66 and a one year high of $3.12.

Cardiol Therapeutics (NASDAQ:CRDL) last announced its quarterly earnings results on Tuesday, May 14th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.04). On average, analysts expect that Cardiol Therapeutics will post -0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cardiol Therapeutics

An institutional investor recently raised its position in Cardiol Therapeutics stock. Laird Norton Trust Company LLC boosted its stake in Cardiol Therapeutics Inc. (NASDAQ:CRDL) by 63.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,000 shares of the company’s stock after purchasing an additional 38,673 shares during the quarter. Laird Norton Trust Company LLC owned about 0.15% of Cardiol Therapeutics worth $90,000 as of its most recent SEC filing. 12.49% of the stock is currently owned by hedge funds and other institutional investors.

Cardiol Therapeutics Company Profile

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.