Leede Financial Issues Positive Forecast for CRDL Earnings

Cardiol Therapeutics Inc. (NASDAQ:CRDL) – Research analysts at Leede Financial lifted their FY2024 earnings estimates for Cardiol Therapeutics in a research report issued on Tuesday, November 19th. Leede Financial analyst D. Loe now forecasts that the company will post earnings of ($0.26) per share for the year, up from their prior 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 investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $8.75.

Cardiol Therapeutics Price Performance

Shares of CRDL opened at $1.58 on Thursday. The firm has a market capitalization of $128.52 million, a PE ratio of -4.00 and a beta of 0.91. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.49 and a quick ratio of 2.49. Cardiol Therapeutics has a 1-year low of $0.79 and a 1-year high of $3.12. The company’s fifty day moving average price is $1.97 and its 200-day moving average price is $2.08.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Townsquare Capital LLC acquired a new position in Cardiol Therapeutics during the third quarter valued at $27,000. Wealth Enhancement Advisory Services LLC acquired a new position in Cardiol Therapeutics during the third quarter valued at $27,000. Jane Street Group LLC acquired a new position in Cardiol Therapeutics during the third quarter valued at $29,000. Baader Bank Aktiengesellschaft acquired a new position in Cardiol Therapeutics during the second quarter valued at $59,000. Finally, Foundations Investment Advisors LLC acquired a new position in shares of Cardiol Therapeutics in the second quarter worth about $97,000. 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.