Cardiol Therapeutics Inc. Forecasted to Earn Q2 2024 Earnings of ($0.09) Per Share (NASDAQ:CRDL)

Cardiol Therapeutics Inc. (NASDAQ:CRDL) – Roth Capital issued their Q2 2024 earnings estimates for shares of Cardiol Therapeutics in a report issued on Wednesday, June 26th. Roth Capital analyst J. Wittes expects that the company will post earnings per share of ($0.09) for the quarter. Roth Capital has a “Strong-Buy” rating on the stock. The consensus estimate for Cardiol Therapeutics’ current full-year earnings is ($0.34) per share. Roth Capital also issued estimates for Cardiol Therapeutics’ Q3 2024 earnings at ($0.09) EPS, Q4 2024 earnings at ($0.09) EPS, FY2024 earnings at ($0.37) EPS, Q1 2025 earnings at ($0.09) EPS, Q2 2025 earnings at ($0.09) EPS, Q3 2025 earnings at ($0.09) EPS, Q4 2025 earnings at ($0.08) EPS, FY2025 earnings at ($0.35) EPS, Q1 2026 earnings at ($0.08) EPS and FY2026 earnings at ($0.39) EPS.

Cardiol Therapeutics (NASDAQ:CRDL) last released its earnings results on Tuesday, May 14th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.04).

Several other brokerages have also recently issued reports on CRDL. Canaccord Genuity Group lifted their price objective on shares of Cardiol Therapeutics from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Cardiol Therapeutics in a report on Friday, June 14th. Canaccord Genuity Group raised their price target on shares of Cardiol Therapeutics from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Finally, Roth Mkm initiated coverage on Cardiol Therapeutics in a research report on Wednesday. They issued a “buy” rating and a $10.00 target price on the stock. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $7.60.

Cardiol Therapeutics Stock Performance

Shares of CRDL opened at $2.02 on Friday. The firm’s 50 day moving average is $2.21 and its 200-day moving average is $1.65. The stock has a market capitalization of $139.38 million, a P/E ratio of -5.77 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.81 and a quick ratio of 2.81. Cardiol Therapeutics has a 12-month low of $0.66 and a 12-month high of $3.12.

Institutional Investors Weigh In On Cardiol Therapeutics

A hedge fund recently raised its stake in Cardiol Therapeutics stock. Laird Norton Trust Company LLC grew its position in Cardiol Therapeutics Inc. (NASDAQ:CRDL) by 63.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,000 shares of the company’s stock after purchasing an additional 38,673 shares during the quarter. Laird Norton Trust Company LLC owned approximately 0.15% of Cardiol Therapeutics worth $90,000 as of its most recent SEC filing. Institutional investors and hedge funds own 12.49% of the company’s stock.

Cardiol Therapeutics Company Profile

Cardiol Therapeutics Inc, a clinical-stage life sciences company, focuses on the research and development of anti-fibrotic and anti-inflammatory therapies for the treatment of heart diseases. Its lead product CardiolRx, which is in Phase II multi-national, randomized, double-blind, and placebo-controlled study to evaluate the efficacy and safety of CardiolRx in acute myocarditis, as well as for the treatment of recurrent pericarditis.