FY2024 Earnings Forecast for CRDL Issued By Leede Financial

Cardiol Therapeutics Inc. (NASDAQ:CRDL - Free Report) - Equities researchers at Leede Financial raised their FY2024 EPS estimates for Cardiol Therapeutics in a research note issued to investors on Tuesday, November 19th. Leede Financial analyst D. Loe now expects that the company will earn ($0.26) per share for the year, up from their previous estimate of ($0.31). The consensus estimate for Cardiol Therapeutics' current full-year earnings is ($0.36) per share. Leede Financial also issued estimates for Cardiol Therapeutics' FY2025 earnings at ($0.25) EPS and FY2026 earnings at ($0.24) EPS.

Separately, HC Wainwright reaffirmed a "buy" rating and set a $9.00 target price on shares of Cardiol Therapeutics in a report on Wednesday. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $8.75.

Cardiol Therapeutics Stock Performance

NASDAQ CRDL opened at $1.56 on Thursday. The firm has a market capitalization of $127.30 million, a P/E ratio of -4.00 and a beta of 0.91. The stock has a 50-day simple moving average of $1.98 and a two-hundred day simple moving average of $2.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.49 and a current ratio of 2.49. Cardiol Therapeutics has a fifty-two week low of $0.79 and a fifty-two week high of $3.12.

Hedge Funds Weigh In On Cardiol Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Lion Street Advisors LLC grew its holdings in Cardiol Therapeutics by 31.4% in the second quarter. Lion Street Advisors LLC now owns 253,281 shares of the company's stock valued at $505,000 after purchasing an additional 60,581 shares during the period. Baader Bank Aktiengesellschaft purchased a new position in shares of Cardiol Therapeutics during the 2nd quarter valued at approximately $59,000. Foundations Investment Advisors LLC purchased a new stake in Cardiol Therapeutics in the 2nd quarter worth $97,000. AdvisorShares Investments LLC increased its holdings in Cardiol Therapeutics by 12.7% in the 2nd quarter. AdvisorShares Investments LLC now owns 1,466,972 shares of the company's stock worth $2,934,000 after acquiring an additional 164,994 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Cardiol Therapeutics during the third quarter worth $27,000. Hedge funds and other 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.

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