First Berlin reiterates Buy on Cardiol Therapeutics, keeps USD 7.5 target price

First Berlin Equity Research reiterated a Buy rating on Cardiol Therapeutics, keeping its 12-month target price at USD 7.5.

The report cited peer-reviewed publication of full Phase II MAvERIC data in JAHA as validation ahead of Phase III MAVERIC enrollment completion in Q3 2026.

Phase II results highlighted a five-day median time to pain relief, 80% CRP normalization, 71% recurrence-free extension, and episodes cut by about 84%.

First Berlin expects Phase III readout in Q1 2027.