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

Shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL - Get Free Report) have earned an average recommendation of "Buy" from the seven brokerages that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $8.40.

A number of equities analysts have weighed in on the stock. HC Wainwright restated a "buy" rating and set a $9.00 price objective on shares of Cardiol Therapeutics in a research report on Monday, February 24th. RODMAN&RENSHAW upgraded shares of Cardiol Therapeutics to a "strong-buy" rating in a research report on Tuesday, January 28th. Finally, Rodman & Renshaw began coverage on shares of Cardiol Therapeutics in a report on Tuesday, January 28th. They set a "buy" rating and a $7.00 target price for the company.

Institutional Investors Weigh In On Cardiol Therapeutics

A number of large investors have recently modified their holdings of the business. Jones Financial Companies Lllp acquired a new stake in Cardiol Therapeutics during the fourth quarter worth about $25,000. Townsquare Capital LLC acquired a new stake in Cardiol Therapeutics during the third quarter worth about $27,000. Jane Street Group LLC acquired a new stake in Cardiol Therapeutics during the third quarter worth about $29,000. Cetera Investment Advisers acquired a new stake in Cardiol Therapeutics during the fourth quarter worth about $56,000. Finally, Virtu Financial LLC acquired a new stake in Cardiol Therapeutics during the fourth quarter worth about $61,000. Hedge funds and other institutional investors own 12.49% of the company's stock.

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Cardiol Therapeutics Price Performance

NASDAQ:CRDL traded down $0.07 during trading hours on Wednesday, reaching $1.12. 72,789 shares of the company were exchanged, compared to its average volume of 389,802. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.01. The stock's 50-day moving average is $1.24 and its 200-day moving average is $1.57. The firm has a market cap of $92.52 million, a PE ratio of -2.87 and a beta of 0.95. Cardiol Therapeutics has a twelve month low of $1.02 and a twelve month high of $3.12.

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.