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$CRDL - Analysts Reaffirm Significant Upside Potential for Cardiol Therapeutics

Cardiol Therapeutics (NASDAQ:CRDL) (TSX:CRDL) - The company is currently developing CardiolRx™ and CRD-38 therapies for heart diseases, including recurrent pericarditis, acute myocarditis, and heart failure.

The stock has the potential for further upside considering the fact that Cardiol will release topline data for its Phase 2 MAvERIC-Pilot clinical trial evaluating the efficacy of CardiolRx™ for the treatment of recurrent pericarditis sometime in early June, which, if positive, has the potential to send the stock higher.

Several analysts have reiterated that the stock has the potential for significant upside, further reaffirming Cardiol’s growth prospects.

For instance, Joe Gantoss of Chimera Research Group says he won’t be surprised to see Cardiol’s price break past the 3-year high at $4.96 if the recurrent pericarditis data show a clear success and open the path to move to the next stage with Phase 3 trial.

According to Gantoss, Cardiol Therapeutics (NASDAQ:CRDL) (TSX:CRDL) has many things going in its favor right now heading into a critical Phase 2 trial readout in recurrent pericarditis in June that he believes will lead to a positive outcome.

“Clearly, a $160 million market cap does not do Cardiol justice. With positive data in Q2, the path to market becomes a slam dunk, and the stock should surge to the upside in response,” says Gantoss.

In addition, analyst Vernon Bernardino of H.C. Wainwright & Co reiterated their Buy rating and issued a $9 price target, which implies that Cardiol Therapeutics (NASDAQ:CRDL) (TSX:CRDL) has a potential upside of about 300% from current levels.

Read full details here https://www.nasdaq.com/press-release/analysts-consensus-reaffirms-significant-upside-potential-for-cardiol-therapeutics