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

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

A number of other research analysts also recently commented on CRDL. HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of Cardiol Therapeutics in a research note 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 assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Cardiol Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Cardiol Therapeutics Price Performance

CRDL opened at $1.01 on Tuesday. The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $1.00 and its 200 day moving average price is $1.09. Cardiol Therapeutics has a fifty-two week low of $0.77 and a fifty-two week high of $1.59. The firm has a market cap of $112.80 million, a price-to-earnings ratio of -3.37 and a beta of 1.04.

Cardiol Therapeutics (NASDAQ:CRDL) last issued its earnings results on Thursday, November 13th. The company reported ($0.09) EPS for the quarter, meeting analysts’ consensus estimates of ($0.09). As a group, sell-side analysts expect that Cardiol Therapeutics will post -0.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CRDL. Tejara Capital Ltd increased its holdings in shares of 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 purchasing an additional 70,829 shares during the period. Thompson Davis & CO. Inc. bought a new stake in shares of Cardiol Therapeutics during the 2nd quarter worth about $39,000. Citadel Advisors LLC lifted its stake in shares of Cardiol Therapeutics by 1,132.6% in the 3rd quarter. Citadel Advisors LLC now owns 463,462 shares of the company’s stock worth $496,000 after acquiring an additional 425,862 shares during the period. Bank of America Corp DE boosted its holdings in shares of Cardiol Therapeutics by 1,983.0% in the third quarter. Bank of America Corp DE now owns 551,053 shares of the company’s stock valued at $590,000 after acquiring an additional 524,598 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Cardiol Therapeutics during the third quarter valued at approximately $154,000. Institutional investors own 12.49% of the company’s stock.

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.