Cardiol Therapeutics (NASDAQ:CRDL) Receives Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a research report report published on Monday,Benzinga reports. The brokerage currently has a $9.00 price objective on the stock.

A number of other research analysts have also recently weighed in on the company. Rodman & Renshaw initiated coverage on Cardiol Therapeutics in a research report on Tuesday, January 28th. They set a “buy” rating and a $7.00 price objective on the stock. RODMAN&RENSHAW raised shares of Cardiol Therapeutics to a “strong-buy” rating in a report on Tuesday, January 28th. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Cardiol Therapeutics has an average rating of “Buy” and an average target price of $8.40.

Cardiol Therapeutics Trading Down 2.5 %

Shares of CRDL stock opened at $1.17 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.49 and a quick ratio of 2.49. The company has a market cap of $96.65 million, a price-to-earnings ratio of -3.00 and a beta of 0.91. Cardiol Therapeutics has a 1 year low of $1.11 and a 1 year high of $3.12. The firm has a fifty day moving average price of $1.31 and a 200-day moving average price of $1.68.

Hedge Funds Weigh In On Cardiol Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp bought a new stake in Cardiol Therapeutics in the 4th quarter valued at $25,000. Townsquare Capital LLC bought a new stake in shares of Cardiol Therapeutics in the third quarter worth about $27,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Cardiol Therapeutics in the third quarter worth about $27,000. Jane Street Group LLC bought a new position in Cardiol Therapeutics during the third quarter valued at approximately $29,000. Finally, Cetera Investment Advisers purchased a new position in Cardiol Therapeutics during the 4th quarter valued at approximately $56,000. Institutional investors own 12.49% of the company’s stock.

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.