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

Cardiol Therapeutics Inc. (NASDAQ:CRDL) has been given an average rating of “Buy” by the seven brokerages that are covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $7.60.

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

Hedge Funds Weigh In On Cardiol Therapeutics

A hedge fund recently bought a new stake in Cardiol Therapeutics stock. Baader Bank Aktiengesellschaft purchased a new position in shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 29,028 shares of the company’s stock, valued at approximately $59,000. Hedge funds and other institutional investors own 12.49% of the company’s stock.

Cardiol Therapeutics Price Performance

NASDAQ CRDL opened at $2.24 on Friday. The company’s 50 day simple moving average is $2.23 and its 200 day simple moving average is $1.81. The firm has a market capitalization of $155.28 million, a PE ratio of -6.40 and a beta of 0.91. 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 issued its earnings results on Tuesday, May 14th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.04). As a group, equities research analysts forecast that Cardiol Therapeutics will post -0.34 EPS for the current fiscal 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.