Cardiol Therapeutics (NASDAQ:CRDL) Raised to Strong-Buy at Brookline Capital Management

Cardiol Therapeutics (NASDAQ:CRDL) was upgraded by equities researchers at Brookline Capital Management to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

CRDL has been the subject of a number of other research reports. HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of Cardiol Therapeutics in a research report on Monday, December 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Cardiol Therapeutics in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $9.00.

Cardiol Therapeutics Stock Performance

Shares of CRDL stock opened at $1.01 on Tuesday. The stock has a fifty day moving average price of $1.00 and a 200 day moving average price of $1.09. The stock has a market cap of $112.80 million, a PE ratio of -3.37 and a beta of 1.04. Cardiol Therapeutics has a 1 year low of $0.77 and a 1 year high of $1.59. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.89 and a current ratio of 3.89.

Cardiol Therapeutics (NASDAQ:CRDL) last posted its earnings results on Thursday, November 13th. The company reported ($0.09) earnings per share for the quarter, meeting the consensus estimate of ($0.09). Sell-side analysts forecast that Cardiol Therapeutics will post -0.33 earnings per share for the current fiscal year.

Institutional Trading of Cardiol Therapeutics

A number of hedge funds have recently bought and sold shares of CRDL. Tejara Capital Ltd lifted its stake in shares of Cardiol Therapeutics by 2.2% during the 2nd quarter. Tejara Capital Ltd now owns 3,265,819 shares of the company’s stock worth $4,442,000 after purchasing an additional 70,829 shares during the period. Thompson Davis & CO. Inc. acquired a new position in Cardiol Therapeutics in the second quarter valued at $39,000. Citadel Advisors LLC lifted its position in Cardiol Therapeutics by 1,132.6% during the third quarter. Citadel Advisors LLC now owns 463,462 shares of the company’s stock worth $496,000 after buying an additional 425,862 shares during the period. Bank of America Corp DE boosted its stake in Cardiol Therapeutics by 1,983.0% in the 3rd quarter. Bank of America Corp DE now owns 551,053 shares of the company’s stock worth $590,000 after buying an additional 524,598 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Cardiol Therapeutics in the 3rd quarter valued at about $154,000. Institutional investors and hedge funds 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.