Shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL – Get Free Report) have received an average rating of “Moderate Buy” from the four analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $10.00.
A number of analysts have recently weighed in on the stock. B. Riley Financial began coverage on shares of Cardiol Therapeutics in a research note on Wednesday, August 26th. They issued a “buy” rating and a $11.00 price target for the company. Canaccord Genuity Group raised their price objective on shares of Cardiol Therapeutics from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Wall Street Zen raised Cardiol Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of Cardiol Therapeutics in a report on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cardiol Therapeutics in a research note on Monday.
Read Our Latest Research Report on CRDL
Cardiol Therapeutics Stock Performance
Cardiol Therapeutics (NASDAQ:CRDL – Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.05. On average, equities research analysts predict that Cardiol Therapeutics will post -0.19 EPS for the current year.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Integrity Alliance LLC. purchased a new stake in Cardiol Therapeutics during the fourth quarter valued at about $416,000. Renaissance Technologies LLC acquired a new position in shares of Cardiol Therapeutics in the first quarter worth about $310,000. AdvisorShares Investments LLC increased its position in shares of Cardiol Therapeutics by 7.3% in the fourth quarter. AdvisorShares Investments LLC now owns 597,977 shares of the company’s stock worth $570,000 after acquiring an additional 40,589 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of Cardiol Therapeutics during the second quarter valued at approximately $27,000. Finally, PVG Asset Management Corp raised its holdings in shares of Cardiol Therapeutics by 10.3% during the first quarter. PVG Asset Management Corp now owns 107,165 shares of the company’s stock valued at $145,000 after acquiring an additional 10,000 shares during the period. Institutional investors own 12.49% of the company’s stock.
Cardiol Therapeutics Company Profile
Cardiol Therapeutics Inc is a clinical-stage biotechnology company focused on developing anti-inflammatory therapies for diseases of the heart. The company’s research centers on the role of inflammation in cardiovascular conditions, including myocarditis and pericarditis, for which treatment options remain limited.
Cardiol’s lead investigational product is CardiolRx, an oral pharmaceutical formulation of cannabidiol designed for use in cardiovascular medicine. The product is being evaluated in clinical research involving acute myocarditis and recurrent pericarditis.
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