Cardiol Therapeutics (NASDAQ:CRDL) Earns Buy Rating from Analysts at HC Wainwright

HC Wainwright initiated coverage on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a research report released on Monday morning, MarketBeat.com reports. The firm issued a buy rating and a $9.00 target price on the stock. HC Wainwright also issued estimates for Cardiol Therapeutics’ Q1 2024 earnings at ($0.06) EPS, Q2 2024 earnings at ($0.05) EPS, Q3 2024 earnings at ($0.05) EPS, Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at ($0.20) EPS, FY2025 earnings at ($0.25) EPS, FY2026 earnings at ($0.34) EPS, FY2027 earnings at ($0.09) EPS and FY2028 earnings at $0.43 EPS.

Cardiol Therapeutics Trading Up 3.4 %

Shares of NASDAQ CRDL opened at $1.82 on Monday. Cardiol Therapeutics has a 1-year low of $0.55 and a 1-year high of $2.17. The company has a market cap of $124.27 million, a PE ratio of -5.52 and a beta of 0.95. The company has a current ratio of 4.36, a quick ratio of 4.36 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average of $1.70 and a two-hundred day moving average of $1.20.

Cardiol Therapeutics (NASDAQ:CRDL) last announced its earnings results on Monday, April 1st. The company reported ($0.09) earnings per share for the quarter. As a group, equities analysts expect that Cardiol Therapeutics will post -0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cardiol Therapeutics

A hedge fund recently raised its stake in Cardiol Therapeutics stock. Laird Norton Trust Company LLC grew its stake in Cardiol Therapeutics Inc. (NASDAQ:CRDL) by 63.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,000 shares of the company’s stock after acquiring an additional 38,673 shares during the period. Laird Norton Trust Company LLC owned 0.15% of Cardiol Therapeutics worth $90,000 as of its most recent filing with the Securities and Exchange Commission. 12.49% of the stock is currently owned by institutional investors.

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 cardiovascular disease (CVD). Its lead product CardiolRx, which is in Phase II/III multi-national, randomized, double-blind, and placebo-controlled study to evaluate the efficacy and safety of CardiolRx for patients hospitalized with COVID-19, as well as for the treatment of recurrent pericarditis and acute myocarditis.