Cardiol Therapeutics (NASDAQ:CRDL – Free Report) had its price objective lifted by Canaccord Genuity Group from $8.00 to $10.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the stock.
Several other brokerages have also recently issued reports on CRDL. Wall Street Zen upgraded shares of Cardiol Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Cardiol Therapeutics in a report on Wednesday, June 24th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Cardiol Therapeutics in a research report on Tuesday, July 14th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Cardiol Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $9.50.
Get Our Latest Analysis on CRDL
Cardiol Therapeutics Trading Up 3.4%
Cardiol Therapeutics (NASDAQ:CRDL – Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.05. On average, equities research analysts predict that Cardiol Therapeutics will post -0.24 EPS for the current year.
Institutional Investors Weigh In On Cardiol Therapeutics
Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its stake in Cardiol Therapeutics by 62.3% in the first quarter. Royal Bank of Canada now owns 21,648 shares of the company’s stock valued at $29,000 after purchasing an additional 8,306 shares during the last quarter. Security National Bank of Sioux City Iowa IA purchased a new stake in shares of Cardiol Therapeutics during the fourth quarter valued at about $31,000. Simplex Trading LLC lifted its position in shares of Cardiol Therapeutics by 96.9% during the fourth quarter. Simplex Trading LLC now owns 32,197 shares of the company’s stock valued at $31,000 after buying an additional 15,842 shares during the last quarter. Boyer Financial Services Inc. purchased a new stake in shares of Cardiol Therapeutics during the fourth quarter valued at about $33,000. Finally, Bank of America Corp DE boosted its holdings in shares of Cardiol Therapeutics by 136.2% in the 2nd quarter. Bank of America Corp DE now owns 26,455 shares of the company’s stock valued at $36,000 after buying an additional 15,255 shares in the last quarter. Institutional investors own 12.49% of the company’s stock.
About Cardiol Therapeutics
Cardiol Therapeutics Inc (NASDAQ: CRDL) is a clinical-stage pharmaceutical company dedicated to developing immunomodulatory treatments for patients with cardiovascular disease. The company’s lead asset, CardiolRx, is a proprietary, pharmaceutical-grade cannabidiol (CBD) formulation designed to target the inflammation and oxidative stress underlying conditions such as acute myocardial injury and heart failure. Cardiol holds exclusive global rights to CardiolRx through a licensing partnership and is advancing additional preclinical programs focused on small-molecule immunotherapies for heart disease.
CardiolRx is formulated for oral administration and has been evaluated in a randomized, placebo-controlled Phase 2 myocardial protection study assessing safety and key biomarkers following acute coronary syndromes.
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