Analyst Brandon Folkes from H.C. Wainwright reiterated a Buy rating on Cardiol Therapeutics and keeping the price target at $9.00.
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Brandon Folkes has given his Buy rating due to a combination of factors that highlight Cardiol Therapeutics’ promising developments in treating inflammatory cardiac diseases. The company’s lead product, CardiolRx, is a highly pure cannabidiol oral solution designed to modulate inflammasome pathway activation, making it suitable for a wide range of cardiac patients without the safety concerns associated with THC. This unique profile positions CardiolRx as a potentially valuable treatment option in the field of cardiology.
Cardiol Therapeutics is actively pursuing two major clinical programs with CardiolRx, targeting recurrent pericarditis and acute myocarditis. The ongoing Phase III MAVERIC trial is expected to provide significant insights into CardiolRx’s efficacy in preventing recurrent pericarditis episodes, with data anticipated in 2026. Additionally, the Phase II ARCHER trial results demonstrated a favorable trend in reducing extracellular volume, a key predictor of cardiovascular outcomes, in patients with acute myocarditis. These findings, coupled with the product’s favorable safety profile, reinforce CardiolRx’s potential and justify the Buy rating.
According to TipRanks, Folkes is an analyst with an average return of -5.2% and a 36.23% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Omeros, Eupraxia Pharmaceuticals, and Trevi Therapeutics.
In another report released on August 13, Canaccord Genuity also reiterated a Buy rating on the stock with a $8.00 price target.