Cardiol Therapeutics (NASDAQ:CRDL) Raised to Strong-Buy at Roth Capital

Roth Capital upgraded shares of Cardiol Therapeutics (NASDAQ:CRDL) to a strong-buy rating in a research note released on Wednesday morning, Zacks.com reports. Roth Capital also issued estimates for Cardiol Therapeutics’ Q2 2024 earnings at ($0.09) EPS, Q3 2024 earnings at ($0.09) EPS, Q4 2024 earnings at ($0.09) EPS, FY2024 earnings at ($0.37) EPS, 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 ($0.35) EPS, Q1 2026 earnings at ($0.08) EPS and FY2026 earnings at ($0.39) EPS.

A number of other research firms have also recently weighed in on CRDL. Roth Mkm assumed coverage on Cardiol Therapeutics in a report on Wednesday. They issued a buy rating and a $10.00 price target for the company. Canaccord Genuity Group upped their target price on Cardiol Therapeutics from $6.00 to $8.00 and gave the company a buy rating in a research note on Thursday, May 23rd. HC Wainwright reiterated a buy rating and issued a $9.00 target price on shares of Cardiol Therapeutics in a research note on Friday, June 14th. Finally, Canaccord Genuity Group upped their target price on Cardiol Therapeutics from $6.00 to $8.00 and gave the company a buy rating in a research note on Thursday, May 23rd. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Buy and an average target price of $7.60.

Cardiol Therapeutics Stock Performance

Shares of CRDL stock opened at $2.02 on Wednesday. The stock has a fifty day moving average price of $2.21 and a 200 day moving average price of $1.65. The stock has a market cap of $139.38 million, a PE ratio of -5.77 and a beta of 0.99. Cardiol Therapeutics has a 1 year low of $0.66 and a 1 year high of $3.12. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.81 and a current ratio of 2.81.

Cardiol Therapeutics (NASDAQ:CRDL) last issued its quarterly earnings data on Tuesday, May 14th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.04). Sell-side analysts forecast that Cardiol Therapeutics will post -0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Cardiol Therapeutics stock. Tejara Capital Ltd raised its position in shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) by 29.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 645,457 shares of the company’s stock after buying an additional 148,396 shares during the quarter. Tejara Capital Ltd owned about 1.00% of Cardiol Therapeutics worth $578,000 at the end of the most recent quarter. 12.49% of the stock is owned by institutional investors and hedge funds.

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.