What is HC Wainwright’s Forecast for CRDL FY2024 Earnings?

Cardiol Therapeutics Inc. (NASDAQ:CRDL) – Stock analysts at HC Wainwright increased their FY2024 earnings per share (EPS) estimates for Cardiol Therapeutics in a note issued to investors on Wednesday, November 20th. HC Wainwright analyst V. Bernardino now forecasts that the company will post earnings of ($0.38) per share for the year, up from their prior forecast of ($0.44). HC Wainwright has a “Buy” rating and a $9.00 price target 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’ Q4 2024 earnings at ($0.09) EPS and FY2025 earnings at ($0.34) EPS.

Cardiol Therapeutics Price Performance

Shares of NASDAQ:CRDL opened at $1.62 on Friday. 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 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 price-to-earnings ratio of -4.15 and a beta of 0.91. The firm has a 50 day simple moving average of $1.94 and a 200 day simple moving average of $2.08.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CRDL. Jane Street Group LLC bought a new position in Cardiol Therapeutics in the third quarter worth approximately $29,000. Townsquare Capital LLC bought a new position in shares of Cardiol Therapeutics during the 3rd quarter worth approximately $27,000. Wealth Enhancement Advisory Services LLC bought a new position in Cardiol Therapeutics in the 3rd quarter valued at $27,000. Foundations Investment Advisors LLC grew its position in Cardiol Therapeutics by 237.4% during the third quarter. Foundations Investment Advisors LLC now owns 161,950 shares of the company’s stock valued at $321,000 after buying an additional 113,950 shares during the period. Finally, 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. 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.