Analysts Set Cardiol Therapeutics Inc. (NASDAQ:CRDL) Price Target at $8.40

Shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) have received a consensus recommendation of “Buy” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $8.40.

Several brokerages recently weighed in on CRDL. HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of Cardiol Therapeutics in a report on Monday, February 24th. RODMAN&RENSHAW upgraded Cardiol Therapeutics to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Rodman & Renshaw began coverage on Cardiol Therapeutics in a report on Tuesday, January 28th. They issued a “buy” rating and a $7.00 price objective for the company.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. PVG Asset Management Corp bought a new position in shares of Cardiol Therapeutics in the 4th quarter worth approximately $624,000. Cetera Investment Advisers bought a new position in Cardiol Therapeutics during the 4th quarter valued at approximately $56,000. Envestnet Asset Management Inc. bought a new position in Cardiol Therapeutics during the 4th quarter valued at approximately $398,000. Virtu Financial LLC bought a new position in Cardiol Therapeutics during the 4th quarter valued at approximately $61,000. Finally, Tejara Capital Ltd increased its position in Cardiol Therapeutics by 75.9% during the 4th quarter. Tejara Capital Ltd now owns 3,115,437 shares of the company’s stock valued at $3,988,000 after buying an additional 1,344,167 shares in the last quarter. Institutional investors own 12.49% of the company’s stock.

Cardiol Therapeutics Trading Down 5.9 %

Shares of CRDL stock opened at $1.12 on Wednesday. The stock has a market capitalization of $92.52 million, a PE ratio of -2.87 and a beta of 0.95. Cardiol Therapeutics has a 1-year low of $1.02 and a 1-year high of $3.12. The business has a 50-day moving average of $1.24 and a 200 day moving average of $1.57. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.49 and a quick ratio of 2.49.

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.