First Berlin reiterates Buy on Cardiol Therapeutics, cuts price target to USD 7.40
CRDL•First Berlin Equity Research reiterated its Buy rating on Cardiol Therapeutics and cut its 12-month price target to USD 7.40 from USD 7.50. MAVERIC enrollment may expand to 150 patients, moving the expected topline readout to mid-2027 from Q1 2027.
1. Enrollment and timing
MAVERIC reached its original target of 110 patients ahead of end-September guidance. A blinded review showed fewer pericarditis recurrences than expected, prompting a recommendation to expand enrollment to as many as 150 patients. The change shifts the expected topline readout to mid-2027 from Q1 2027; existing capital is seen funding operations into Q1 2028.
