HC Wainwright Brokers Increase Earnings Estimates for CRDL

Cardiol Therapeutics Inc. (NASDAQ:CRDL) – Equities research analysts at HC Wainwright upped their FY2028 earnings estimates for Cardiol Therapeutics in a report released on Thursday, April 2nd. HC Wainwright analyst B. Folkes now expects that the company will post earnings per share of $0.45 for the year, up from their previous estimate of $0.38. HC Wainwright has a “Buy” rating and a $9.00 price target on the stock. The consensus estimate for Cardiol Therapeutics’ current full-year earnings is ($0.33) per share. HC Wainwright also issued estimates for Cardiol Therapeutics’ FY2029 earnings at $0.94 EPS and FY2030 earnings at $2.13 EPS.

Several other research firms have also weighed in on CRDL. upgraded shares of Cardiol Therapeutics to a “strong-buy” rating in a report on Tuesday, February 3rd. Wall Street Zen upgraded Cardiol Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.00.

Cardiol Therapeutics Price Performance

Cardiol Therapeutics stock opened at $1.41 on Friday. The firm has a fifty day moving average of $1.06 and a 200-day moving average of $1.05. Cardiol Therapeutics has a 52-week low of $0.77 and a 52-week high of $1.59. The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $157.67 million, a P/E ratio of -5.04 and a beta of 0.82.

Cardiol Therapeutics (NASDAQ:CRDL) last announced its quarterly earnings results on Monday, March 30th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.04.

Hedge Funds Weigh In On Cardiol Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of CRDL. Bank of America Corp DE raised its stake in shares of Cardiol Therapeutics by 136.2% during the second quarter. Bank of America Corp DE now owns 26,455 shares of the company’s stock valued at $36,000 after purchasing an additional 15,255 shares during the period. Simplex Trading LLC boosted its stake in shares of Cardiol Therapeutics by 96.9% in the fourth quarter. Simplex Trading LLC now owns 32,197 shares of the company’s stock valued at $31,000 after purchasing an additional 15,842 shares during the period. Security National Bank of Sioux City Iowa IA purchased a new position in shares of Cardiol Therapeutics in the fourth quarter valued at $31,000. Boyer Financial Services Inc. acquired a new stake in Cardiol Therapeutics during the 4th quarter valued at $33,000. Finally, Susquehanna International Group LLP grew its holdings in Cardiol Therapeutics by 366.5% during the 3rd quarter. Susquehanna International Group LLP now owns 93,398 shares of the company’s stock valued at $100,000 after purchasing an additional 73,375 shares in the last quarter. Hedge funds and other institutional investors own 12.49% of the company’s stock.

Cardiol Therapeutics Company Profile

Cardiol Therapeutics Inc (NASDAQ: CRDL) is a clinical-stage pharmaceutical company dedicated to developing immunomodulatory treatments for patients with cardiovascular disease. The company’s lead asset, CardiolRx, is a proprietary, pharmaceutical-grade cannabidiol (CBD) formulation designed to target the inflammation and oxidative stress underlying conditions such as acute myocardial injury and heart failure. Cardiol holds exclusive global rights to CardiolRx through a licensing partnership and is advancing additional preclinical programs focused on small-molecule immunotherapies for heart disease.

CardiolRx is formulated for oral administration and has been evaluated in a randomized, placebo-controlled Phase 2 myocardial protection study assessing safety and key biomarkers following acute coronary syndromes.