HC Wainwright Analysts Increase Earnings Estimates for CRDL

Key Points

• HC Wainwright analysts have raised their FY2028 earnings per share estimate for Cardiol Therapeutics (NASDAQ: CRDL) to $0.51, up from $0.40, maintaining a "Buy" rating with a $9.00 price target.
• The company's stock has seen a slight decrease of 2.2%, with current trading around $1.31 and a market capitalization of $109.66 million.
• Cardiol Therapeutics recently reported earnings of ($0.07) per share for the previous quarter, exceeding analysts' expectations of ($0.11) by $0.04.

Cardiol Therapeutics Inc. (NASDAQ:CRDL - Free Report) - Equities researchers at HC Wainwright raised their FY2028 EPS estimates for shares of Cardiol Therapeutics in a note issued to investors on Friday, August 15th. HC Wainwright analyst B. Folkes now forecasts that the company will earn $0.51 per share for the year, up from their prior forecast of $0.40. HC Wainwright currently has a "Buy" rating and a $9.00 target price on the stock. The consensus estimate for Cardiol Therapeutics' current full-year earnings is ($0.33) per share. HC Wainwright also issued estimates for Cardiol Therapeutics' FY2029 earnings at $1.05 EPS.

Cardiol Therapeutics Stock Up 0.4%

Cardiol Therapeutics stock traded up $0.0050 during mid-day trading on Monday, reaching $1.1750. The stock had a trading volume of 1,208,740 shares, compared to its average volume of 378,863. The company has a market capitalization of $98.36 million, a price-to-earnings ratio of -3.46 and a beta of 1.05. The company has a 50-day moving average price of $1.32 and a two-hundred day moving average price of $1.20. Cardiol Therapeutics has a one year low of $0.7709 and a one year high of $2.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.46 and a quick ratio of 3.26.

Cardiol Therapeutics (NASDAQ:CRDL - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.11) by $0.04.

Hedge Funds Weigh In On Cardiol Therapeutics

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in Cardiol Therapeutics by 136.2% in the 2nd quarter. Bank of America Corp DE now owns 26,455 shares of the company's stock worth $36,000 after purchasing an additional 15,255 shares in the last quarter. Thompson Davis & CO. Inc. bought a new position in Cardiol Therapeutics in the 2nd quarter worth about $39,000. Cetera Investment Advisers bought a new position in Cardiol Therapeutics in the 4th quarter worth about $56,000. Envestnet Asset Management Inc. bought a new position in Cardiol Therapeutics in the 4th quarter worth about $398,000. Finally, Lion Street Advisors LLC boosted its holdings in shares of Cardiol Therapeutics by 8.5% during the 1st quarter. Lion Street Advisors LLC now owns 333,725 shares of the company's stock valued at $318,000 after acquiring an additional 26,059 shares during the last quarter. Institutional investors own 12.49% of the company's stock.

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.