Roth Capital Comments on Cardiol Therapeutics Inc.’s Q3 2024 Earnings (NASDAQ:CRDL)

Cardiol Therapeutics Inc. (NASDAQ:CRDL) – Equities research analysts at Roth Capital boosted their Q3 2024 earnings per share (EPS) estimates for Cardiol Therapeutics in a research report issued to clients and investors on Tuesday, September 10th. Roth Capital analyst J. Wittes now forecasts that the company will post earnings per share of ($0.08) for the quarter, up from their previous forecast of ($0.10). Roth Capital currently 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’ Q4 2024 earnings at ($0.07) EPS, FY2024 earnings at ($0.32) EPS, Q1 2025 earnings at ($0.07) EPS, Q2 2025 earnings at ($0.07) EPS, Q3 2025 earnings at ($0.08) EPS, Q4 2025 earnings at ($0.07) EPS, FY2025 earnings at ($0.30) EPS, Q1 2026 earnings at ($0.07) EPS, Q2 2026 earnings at ($0.08) EPS and FY2026 earnings at ($0.33) EPS.

A number of other equities analysts also recently commented on CRDL. Canaccord Genuity Group lifted their price target on Cardiol Therapeutics from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Canaccord Genuity Group lifted their price target on Cardiol Therapeutics from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Roth Mkm began coverage on Cardiol Therapeutics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $10.00 price target for the company. Finally, HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of Cardiol Therapeutics in a research note on Friday, June 14th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $8.75.

Cardiol Therapeutics Stock Up 4.6 %

Shares of Cardiol Therapeutics stock opened at $2.48 on Friday. The company has a market capitalization of $173.30 million, a PE ratio of -7.09 and a beta of 0.89. Cardiol Therapeutics has a 1-year low of $0.66 and a 1-year high of $3.12. The business has a 50-day moving average of $2.06 and a 200-day moving average of $2.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.39 and a quick ratio of 2.39.

Cardiol Therapeutics (NASDAQ:CRDL) last announced its earnings results on Monday, August 12th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.03.

Hedge Funds Weigh In On Cardiol Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Baader Bank Aktiengesellschaft acquired a new position in Cardiol Therapeutics in the second quarter valued at approximately $59,000. Foundations Investment Advisors LLC bought a new stake in shares of Cardiol Therapeutics during the second quarter valued at approximately $97,000. Lion Street Advisors LLC raised its holdings in shares of Cardiol Therapeutics by 31.4% during the second quarter. Lion Street Advisors LLC now owns 253,281 shares of the company’s stock valued at $505,000 after buying an additional 60,581 shares during the last quarter. Finally, AdvisorShares Investments LLC raised its holdings in shares of Cardiol Therapeutics by 12.7% during the second quarter. AdvisorShares Investments LLC now owns 1,466,972 shares of the company’s stock valued at $2,934,000 after buying an additional 164,994 shares during the last quarter. 12.49% of the stock is currently owned by institutional investors and hedge funds.

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.