Q2 2024 Earnings Forecast for Cardiol Therapeutics Inc. Issued By Roth Capital (NASDAQ:CRDL)

Cardiol Therapeutics Inc. (NASDAQ:CRDL) – Roth Capital issued their Q2 2024 earnings per share (EPS) estimates for shares of Cardiol Therapeutics in a research note issued on Wednesday, June 26th. Roth Capital analyst J. Wittes anticipates that the company will post earnings of ($0.09) per share for the quarter. Roth Capital has a “Strong-Buy” rating on the stock. The consensus estimate for Cardiol Therapeutics’ current full-year earnings is ($0.33) 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 announced its quarterly earnings data on Tuesday, May 14th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04).

Several other equities research analysts have also weighed in on the stock. Canaccord Genuity Group increased their target price 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. Canaccord Genuity Group raised their price objective on 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 set a $9.00 target price on shares of Cardiol Therapeutics in a report on Friday, June 14th. Finally, Roth Mkm assumed coverage on Cardiol Therapeutics in a report on Wednesday. They issued a “buy” rating and a $10.00 price target for the company. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cardiol Therapeutics presently has an average rating of “Buy” and a consensus price target of $7.60.

Cardiol Therapeutics Price Performance

Shares of CRDL opened at $2.00 on Friday. The stock has a market cap of $138 million, a P/E ratio of -5.71 and a beta of 0.99. Cardiol Therapeutics has a 1 year low of $0.66 and a 1 year high of $3.12. The stock’s 50-day moving average price is $2.20 and its two-hundred day moving average price is $1.64. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On Cardiol Therapeutics

An institutional investor recently raised its position in Cardiol Therapeutics stock. Tejara Capital Ltd grew its holdings in Cardiol Therapeutics Inc. (NASDAQ:CRDL) by 29.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 645,457 shares of the company’s stock after purchasing an additional 148,396 shares during the period. Tejara Capital Ltd owned about 1.00% of Cardiol Therapeutics worth $578,000 at the end of the most recent quarter. Institutional investors own 12.49% of the company’s stock.

About Cardiol Therapeutics

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.