Roth Capital Has Negative Estimate for CRDL FY2024 Earnings

Cardiol Therapeutics Inc. (NASDAQ:CRDL) – Investment analysts at Roth Capital cut their FY2024 earnings estimates for Cardiol Therapeutics in a report issued on Tuesday, November 19th. Roth Capital analyst J. Wittes now expects that the company will post earnings of ($0.36) per share for the year, down from their previous forecast of ($0.32). The consensus estimate for Cardiol Therapeutics’ current full-year earnings is ($0.36) per share. Roth Capital also issued estimates for Cardiol Therapeutics’ 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 ($0.33) EPS, Q1 2026 earnings at ($0.08) EPS, Q2 2026 earnings at ($0.09) EPS, Q3 2026 earnings at ($0.09) EPS and FY2026 earnings at ($0.36) EPS.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Cardiol Therapeutics in a research note on Wednesday. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $8.75.

Cardiol Therapeutics Stock Up 2.5 %

Shares of CRDL opened at $1.62 on Thursday. The stock’s 50-day moving average price is $1.95 and its two-hundred day moving average price is $2.08. Cardiol Therapeutics has a 12 month low of $0.79 and a 12 month high of $3.12. The company has a market capitalization of $132.19 million, a PE ratio of -4.04 and a beta of 0.91. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On Cardiol Therapeutics

A number of hedge funds have recently added to or reduced their stakes in CRDL. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Cardiol Therapeutics during the 3rd quarter worth approximately $27,000. Foundations Investment Advisors LLC grew its holdings in Cardiol Therapeutics by 237.4% in the third quarter. Foundations Investment Advisors LLC now owns 161,950 shares of the company’s stock worth $321,000 after purchasing an additional 113,950 shares during the period. AdvisorShares Investments LLC increased its stake in Cardiol Therapeutics by 12.7% in the second quarter. AdvisorShares Investments LLC now owns 1,466,972 shares of the company’s stock valued at $2,934,000 after purchasing an additional 164,994 shares in the last quarter. Lion Street Advisors LLC raised its holdings in shares of Cardiol Therapeutics by 7.9% during the third quarter. Lion Street Advisors LLC now owns 273,281 shares of the company’s stock valued at $544,000 after purchasing an additional 20,000 shares during the period. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of Cardiol Therapeutics during the 2nd quarter worth about $59,000. 12.49% of the stock is currently owned by 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.