Cardiol Therapeutics (NASDAQ:CRDL) Announces Earnings Results

Key Points

• Cardiol Therapeutics reported a quarterly earnings per share of ($0.07), surpassing analysts' expectations of ($0.11) by $0.04.
• The company's stock experienced a significant increase, trading up 20.7% to $1.34 after the earnings announcement.
• HC Wainwright initiated coverage on Cardiol Therapeutics, issuing a "buy" rating with a price target of $9.00.

Cardiol Therapeutics (NASDAQ:CRDL - Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.04, Zacks reports.

Cardiol Therapeutics Trading Up 20.7%

Shares of NASDAQ CRDL traded up $0.23 during mid-day trading on Thursday, hitting $1.34. The company's stock had a trading volume of 3,527,116 shares, compared to its average volume of 342,324. The stock has a market cap of $110.78 million, a price-to-earnings ratio of -3.94 and a beta of 1.05. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.26 and a quick ratio of 3.26. Cardiol Therapeutics has a one year low of $0.77 and a one year high of $2.63. The company's fifty day simple moving average is $1.34 and its 200-day simple moving average is $1.20.

Wall Street Analyst Weigh In

Separately, HC Wainwright began coverage on shares of Cardiol Therapeutics in a research report on Monday, June 2nd. They issued a "buy" rating and a $9.00 price objective for the company.

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.

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