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

Cardiol Therapeutics (NASDAQ:CRDL - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $9.00 price target on the stock.

A number of other brokerages have also weighed in on CRDL. RODMAN&RENSHAW upgraded Cardiol Therapeutics to a "strong-buy" rating in a research report on Tuesday, January 28th. Rodman & Renshaw assumed coverage on Cardiol Therapeutics in a report on Tuesday, January 28th. They set a "buy" rating and a $7.00 price target for the company. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Cardiol Therapeutics currently has an average rating of "Buy" and a consensus price target of $8.40.

Cardiol Therapeutics Price Performance

CRDL traded down $0.04 on Wednesday, hitting $0.97. 313,265 shares of the company's stock traded hands, compared to its average volume of 384,233. The company's 50 day simple moving average is $1.07 and its 200-day simple moving average is $1.39. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.01. Cardiol Therapeutics has a one year low of $0.77 and a one year high of $3.12. The firm has a market cap of $80.13 million, a price-to-earnings ratio of -2.49 and a beta of 1.00.

Cardiol Therapeutics (NASDAQ:CRDL - Get Free Report) last released its quarterly earnings data on Monday, March 31st. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.01. As a group, research analysts anticipate that Cardiol Therapeutics will post -0.33 EPS for the current year.

Institutional Trading of Cardiol Therapeutics

A number of institutional investors have recently bought and sold shares of CRDL. Tejara Capital Ltd lifted its holdings in shares of Cardiol Therapeutics by 75.9% in the 4th quarter. Tejara Capital Ltd now owns 3,115,437 shares of the company's stock worth $3,988,000 after acquiring an additional 1,344,167 shares during the last quarter. PVG Asset Management Corp purchased a new position in shares of Cardiol Therapeutics during the fourth quarter valued at approximately $624,000. Lion Street Advisors LLC raised its holdings in shares of Cardiol Therapeutics by 8.5% in the first quarter. Lion Street Advisors LLC now owns 333,725 shares of the company's stock worth $318,000 after buying an additional 26,059 shares during the period. Envestnet Asset Management Inc. purchased a new position in Cardiol Therapeutics during the 4th quarter valued at $398,000. Finally, Atria Investments Inc bought a new position in Cardiol Therapeutics in the 4th quarter valued at $174,000. 12.49% of the stock is currently owned by 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.