Cardiol Therapeutics (NASDAQ:CRDL) Rating Increased to Strong-Buy at Roth Capital

Cardiol Therapeutics (NASDAQ:CRDL) was upgraded by equities research analysts at Roth Capital to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

A number of other equities analysts also recently commented on CRDL. Canaccord Genuity Group boosted their price objective on shares of Cardiol Therapeutics from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Roth Mkm assumed coverage on Cardiol Therapeutics in a research note on Wednesday. They set a “buy” rating and a $10.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of Cardiol Therapeutics in a research report on Friday, June 14th. Finally, Canaccord Genuity Group boosted their target price 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. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $7.60.

Cardiol Therapeutics Stock Performance

Shares of Cardiol Therapeutics stock opened at $2.00 on Wednesday. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average price is $2.20 and its 200-day moving average price is $1.64. The firm has a market cap of $138 million, a P/E ratio of -5.71 and a beta of 0.99. Cardiol Therapeutics has a 12 month low of $0.66 and a 12 month high of $3.12.

Cardiol Therapeutics (NASDAQ:CRDL) last posted its earnings results on Tuesday, May 14th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). On average, equities research analysts expect that Cardiol Therapeutics will post -0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cardiol Therapeutics

An institutional investor recently raised its position in Cardiol Therapeutics stock. Laird Norton Trust Company LLC increased its stake in Cardiol Therapeutics Inc. (NASDAQ:CRDL) by 63.1% in the third quarter, according to its most recent 13F filing 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 period. Laird Norton Trust Company LLC owned 0.15% of Cardiol Therapeutics worth $90,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 12.49% of the company’s stock.

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.