Roth Capital Has Negative Outlook of CRDL FY2024 Earnings

Cardiol Therapeutics Inc. (NASDAQ:CRDL) – Investment analysts at Roth Capital decreased their FY2024 earnings per share estimates for shares of Cardiol Therapeutics in a report issued on Tuesday, November 19th. Roth Capital analyst J. Wittes now forecasts that the company will post earnings per share of ($0.36) for the year, down from their previous estimate 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 reiterated a “buy” rating and issued a $9.00 price objective on shares of Cardiol Therapeutics in a research note on Wednesday. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $8.75.

Cardiol Therapeutics Stock Performance

Shares of CRDL stock opened at $1.62 on Thursday. Cardiol Therapeutics has a one year low of $0.79 and a one year high of $3.12. The company has a market cap of $132.19 million, a P/E ratio of -4.04 and a beta of 0.91. The firm has a 50-day moving average of $1.95 and a 200-day moving average of $2.08. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.49 and a quick ratio of 2.49.

Institutional Investors Weigh In On Cardiol Therapeutics

Hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC bought a new position in Cardiol Therapeutics during the third quarter valued at about $27,000. Foundations Investment Advisors LLC boosted its stake in Cardiol Therapeutics by 237.4% in the third quarter. Foundations Investment Advisors LLC now owns 161,950 shares of the company’s stock valued at $321,000 after acquiring an additional 113,950 shares during the last quarter. AdvisorShares Investments LLC grew its position in shares of Cardiol Therapeutics by 12.7% during the 2nd quarter. AdvisorShares Investments LLC now owns 1,466,972 shares of the company’s stock valued at $2,934,000 after acquiring an additional 164,994 shares during the period. Lion Street Advisors LLC increased its stake in shares of Cardiol Therapeutics by 7.9% during the 3rd quarter. Lion Street Advisors LLC now owns 273,281 shares of the company’s stock worth $544,000 after purchasing an additional 20,000 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft bought a new stake in shares of Cardiol Therapeutics in the 2nd quarter worth approximately $59,000. 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 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.