Analysts Set Cardiol Therapeutics Inc. (NASDAQ:CRDL) Price Target at $7.60

Shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) have earned a consensus rating of “Buy” from the seven research firms that are presently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $7.60.

A number of research firms have commented on CRDL. Canaccord Genuity Group lifted their price objective on shares of Cardiol Therapeutics from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Roth Capital upgraded Cardiol Therapeutics to a “strong-buy” rating in a research note on Wednesday, June 26th. HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Cardiol Therapeutics in a research note on Friday, June 14th. Canaccord Genuity Group raised their target price on Cardiol Therapeutics from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, Roth Mkm assumed coverage on Cardiol Therapeutics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $10.00 target price on the stock.

Institutional Investors Weigh In On Cardiol Therapeutics

An institutional investor recently raised its position in Cardiol Therapeutics stock. Laird Norton Trust Company LLC lifted its stake in shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) by 63.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,000 shares of the company’s stock after purchasing an additional 38,673 shares during the quarter. Laird Norton Trust Company LLC owned about 0.15% of Cardiol Therapeutics worth $90,000 at the end of the most recent reporting period. 12.49% of the stock is currently owned by institutional investors.

Cardiol Therapeutics Stock Performance

Cardiol Therapeutics stock opened at $1.96 on Wednesday. The company has a market cap of $135.24 million, a PE ratio of -5.60 and a beta of 0.91. The company has a fifty day moving average price of $2.21 and a two-hundred day moving average price of $1.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.81 and a quick ratio of 2.81. Cardiol Therapeutics has a 12 month low of $0.66 and a 12 month high of $3.12.

Cardiol Therapeutics (NASDAQ:CRDL) last released its quarterly earnings data on Tuesday, May 14th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). Research analysts expect that Cardiol Therapeutics will post -0.34 earnings per share for the current year.

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.