Cardiol Therapeutics (NASDAQ:CRDL) Upgraded by Brookline Capital Management to “Strong-Buy” Rating

Brookline Capital Management upgraded shares of Cardiol Therapeutics (NASDAQ:CRDL) to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports.

Several other equities research analysts have also commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target on shares of Cardiol Therapeutics in a report on Monday, December 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Cardiol Therapeutics in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Cardiol Therapeutics Stock Down 1.0%

CRDL stock opened at $1.01 on Tuesday. The firm has a market cap of $112.80 million, a price-to-earnings ratio of -3.37 and a beta of 1.04. The firm has a fifty day moving average price of $1.00 and a two-hundred day moving average price of $1.09. 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 current ratio of 3.89 and a quick ratio of 3.89.

Cardiol Therapeutics (NASDAQ:CRDL) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). Research analysts predict that Cardiol Therapeutics will post -0.33 EPS for the current year.

Hedge Funds Weigh In On Cardiol Therapeutics

Hedge funds have recently modified their holdings of the company. Thompson Davis & CO. Inc. bought a new stake in shares of Cardiol Therapeutics in the 2nd quarter worth $39,000. Tejara Capital Ltd boosted its stake in Cardiol Therapeutics by 2.2% during the second quarter. Tejara Capital Ltd now owns 3,265,819 shares of the company’s stock valued at $4,442,000 after buying an additional 70,829 shares in the last quarter. Bank of America Corp DE grew its holdings in Cardiol Therapeutics by 136.2% during the second quarter. Bank of America Corp DE now owns 26,455 shares of the company’s stock worth $36,000 after acquiring an additional 15,255 shares during the period. Sheets Smith Investment Management acquired a new stake in Cardiol Therapeutics in the 3rd quarter valued at about $152,000. Finally, Two Sigma Investments LP bought a new position in shares of Cardiol Therapeutics during the 3rd quarter valued at about $249,000. 12.49% of the stock is currently owned by institutional investors and hedge funds.

Cardiol Therapeutics Company Profile

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.