Analyst Brandon Folkes of H.C. Wainwright reiterated a Buy rating on Cardiol Therapeutics, retaining the price target of $9.00.
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Brandon Folkes has given his Buy rating due to a combination of factors that highlight the potential of Cardiol Therapeutics’ pipeline. The company’s lead product, CardiolRx, is a high-purity cannabidiol oral solution designed to address cardiac inflammation without the safety concerns associated with THC. This positions CardiolRx as a promising treatment for a wide range of cardiac patients. Additionally, Cardiol Therapeutics is advancing CRD-38, a subcutaneous formulation with the same mechanism of action, targeting heart failure.
Folkes also notes the ongoing Phase III MAVERIC trial, which is evaluating CardiolRx for recurrent pericarditis. The trial builds on earlier positive results, and the completion of enrollment is anticipated in the first half of 2026, with data expected later that year. Despite some negative reactions to the Phase 2 ARCHER data for acute myocarditis, Folkes believes these results are promising and support the potential of CardiolRx in cardiomyopathies and heart failure. Furthermore, the company’s recent financing extends its cash runway into the third quarter of 2027, providing financial stability to support its clinical programs.
Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CRDL in relation to earlier this year.