Leede Financial Issues Positive Forecast for CRDL Earnings

Cardiol Therapeutics Inc. (NASDAQ:CRDL) – Equities research analysts at Leede Financial increased their FY2024 earnings estimates for Cardiol Therapeutics in a report released on Tuesday, November 19th. Leede Financial analyst D. Loe now expects that the company will post earnings per share of ($0.26) for the year, up from their previous forecast of ($0.31). The consensus estimate for Cardiol Therapeutics’ current full-year earnings is ($0.36) per share. Leede Financial also issued estimates for Cardiol Therapeutics’ FY2025 earnings at ($0.25) EPS and FY2026 earnings at ($0.24) EPS.

Separately, HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of Cardiol Therapeutics in a report on Wednesday. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $8.75.

Cardiol Therapeutics Stock Performance

Shares of CRDL stock opened at $1.58 on Thursday. The firm has a market cap of $128.52 million, a price-to-earnings ratio of -4.00 and a beta of 0.91. The company’s 50 day moving average is $1.97 and its 200 day moving average is $2.08. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.01. Cardiol Therapeutics has a 52-week low of $0.79 and a 52-week high of $3.12.

Hedge Funds Weigh In On Cardiol Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC purchased a new position in Cardiol Therapeutics in the third quarter worth $27,000. Townsquare Capital LLC purchased a new position in Cardiol Therapeutics in the third quarter worth $27,000. Jane Street Group LLC purchased a new position in Cardiol Therapeutics in the third quarter worth $29,000. Baader Bank Aktiengesellschaft purchased a new position in Cardiol Therapeutics in the second quarter worth $59,000. Finally, Foundations Investment Advisors LLC purchased a new position in Cardiol Therapeutics in the second quarter worth $97,000. 12.49% of the stock is owned by hedge funds and other institutional investors.

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.