H.C. Wainwright Initiates Coverage on Cardiol Therapeutics with Positive Outlook, Sets Price Target of $9

H.C. Wainwright initiates coverage on Cardiol Therapeutics (CRDL) with a Buy recommendation and a $9 price target. The firm is optimistic about the company's clinical programs, particularly the CardiolRx program, which aims to treat recurrent pericarditis and acute myocarditis. Analysts forecast a one-year average target price of $10.07, implying an upside of 705.33% from the current price. The average brokerage recommendation is 2.0, indicating an "Outperform" status.

On June 2, 2025, H.C. Wainwright & Co. initiated coverage of Cardiol Therapeutics (CRDL) with a Buy recommendation and a price target of $9.00 per share [1]. The firm is optimistic about the company's clinical programs, particularly the CardiolRx program, which aims to treat recurrent pericarditis and acute myocarditis. Analysts forecast a one-year average target price of $10.07, implying an upside of 705.33% from the current price. The average brokerage recommendation is 2.0, indicating an "Outperform" status [2].

Cardiol Therapeutics is a clinical-stage biotechnology company focused on the research and clinical development of innovative anti-inflammatory therapies for the treatment of cardiovascular disease (CVD). The company's lead product, CardiolRx™, is an oral cannabidiol formulation that is being investigated in a Phase II/III outcomes study in hospitalized patients testing positive for COVID-19 [1]. Additionally, Cardiol Therapeutics is planning to file an Investigational New Drug (IND) application for a Phase II international trial to investigate the anti-inflammatory and anti-fibrotic properties of CardiolRx in patients with acute myocarditis [2].

The firm's coverage highlights the company's strong clinical pipeline and the potential of its lead product, CardiolRx. The analysts are particularly bullish on the company's ability to generate significant revenue growth and increase shareholder value. The average one-year price target of $10.07 represents a substantial upside from the current price of $1.25 per share [1].

Institutional ownership of Cardiol Therapeutics has increased in the last three months, with a total of 8,795K shares owned by institutions, representing a 4.40% increase. The put/call ratio of CRDL is 0.00, indicating a bullish outlook [1]. Several key shareholders, including Tejara Capital, YOLO - AdvisorShares Pure Cannabis ETF, and AdvisorShares Investments, have increased their portfolio allocation in CRDL over the last quarter, further demonstrating investor confidence in the company's prospects [1].

Overall, H.C. Wainwright's coverage of Cardiol Therapeutics reflects the strong potential of the company's clinical programs and the positive sentiment surrounding its lead product, CardiolRx. Investors should closely monitor the company's clinical trial results and regulatory filings to assess its long-term growth prospects.

References:
[1] https://www.nasdaq.com/articles/hc-wainwright-co-initiates-coverage-cardiol-therapeutics-crdl-buy-recommendation
[2] https://quantisnow.com/company/CRDL