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Investing.com - H.C. Wainwright reiterated a Buy rating and $9.00 price target on Cardiol Therapeutics (NASDAQ:CRDL) following the company’s announcement of database lock for its ARCHER trial. The target represents significant upside potential, with analyst consensus targets ranging from $8.05 to $10.21, according to InvestingPro data.
Cardiol Therapeutics announced on Monday the database lock for the ARCHER trial, a Phase II study investigating CardiolRx for myocardial recovery in patients with acute myocarditis.
CardiolRx is a pharmaceutically manufactured oral cannabidiol solution characterized by high purity and the absence of detectable THC, according to the research firm.
The company is currently advancing CardiolRx in two lead clinical programs targeting recurrent pericarditis and acute myocarditis, while simultaneously developing CRD-38, a subcutaneously administered small molecule formulation for heart failure treatment.
H.C. Wainwright had previously anticipated the ARCHER trial data in the second quarter of 2025, addressing investor questions that emerged following their initial coverage of the company. For deeper insights into Cardiol’s financial health metrics and 8 additional key ProTips, visit InvestingPro.
In other recent news, Cardiol Therapeutics announced the database lock for its Phase II ARCHER trial, which investigates CardiolRx in patients with acute myocarditis. This multi-national trial, involving over 100 patients from the United States, France, Brazil, and Israel, aims to assess the impact of CardiolRx on heart dysfunction and fibrosis. Topline results from this study are expected within two weeks. Additionally, H.C. Wainwright analysts have initiated coverage on Cardiol Therapeutics stock with a Buy rating and set a price target of $9.00 per share. In another development, Cardiol Therapeutics has nominated Dr. Timothy J. Garnett, a former Chief Medical (TASE:BLWV) Officer of Eli Lilly (NYSE:LLY), for election to its Board of Directors. Dr. Garnett brings over 30 years of pharmaceutical industry experience, including leading the development of therapeutics in women’s health, endocrinology, and neuroscience. The election is scheduled for the company’s Annual General Meeting on May 28, 2025. These developments highlight Cardiol Therapeutics’ ongoing efforts in advancing its clinical programs and strengthening its leadership team.
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