HC Wainwright Reiterates "Buy" Rating for Cardiol Therapeutics (NASDAQ:CRDL)

HC Wainwright reiterated their buy rating on shares of Cardiol Therapeutics (NASDAQ:CRDL - Free Report) in a report issued on Monday morning,Benzinga reports. HC Wainwright currently has a $9.00 target price on the stock. HC Wainwright also issued estimates for Cardiol Therapeutics' FY2025 earnings at ($0.47) EPS.

A number of other brokerages also recently issued reports on CRDL. RODMAN&RENSHAW upgraded Cardiol Therapeutics to a "strong-buy" rating in a research note on Tuesday, January 28th. Rodman & Renshaw started coverage on shares of Cardiol Therapeutics in a research note on Tuesday, January 28th. They issued a "buy" rating and a $7.00 price objective for the company. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $8.40.

Cardiol Therapeutics Stock Performance

CRDL traded up $0.06 during mid-day trading on Monday, reaching $0.96. 75,101 shares of the company traded hands, compared to its average volume of 384,420. The stock has a market capitalization of $79.06 million, a P/E ratio of -2.45 and a beta of 1.00. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.01. The company's fifty day moving average price is $1.11 and its 200-day moving average price is $1.43. Cardiol Therapeutics has a 52-week low of $0.77 and a 52-week high of $3.12.

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Cardiol Therapeutics (NASDAQ:CRDL - Get Free Report) last issued its quarterly earnings results on Monday, March 31st. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.01. On average, sell-side analysts expect that Cardiol Therapeutics will post -0.33 EPS for the current year.

Institutional Investors Weigh In On Cardiol Therapeutics

Hedge funds have recently made changes to their positions in the company. Tejara Capital Ltd increased its stake in Cardiol Therapeutics by 75.9% during the fourth 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 bought a new position in shares of Cardiol Therapeutics during the 4th quarter valued at approximately $624,000. Envestnet Asset Management Inc. purchased a new stake in Cardiol Therapeutics during the 4th quarter valued at $398,000. Atria Investments Inc purchased a new stake in Cardiol Therapeutics during the 4th quarter valued at $174,000. Finally, Virtu Financial LLC bought a new stake in Cardiol Therapeutics in the fourth quarter worth $61,000. 12.49% of the stock is currently owned by hedge funds and other institutional investors.

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.