Cardiol Therapeutics (NASDAQ:CRDL) Releases Earnings Results, Misses Estimates By $0.02 EPS

Cardiol Therapeutics (NASDAQ:CRDL) issued its quarterly earnings results on Thursday. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02), Zacks reports.

Cardiol Therapeutics Trading Down 3.0%

NASDAQ CRDL traded down $0.03 during trading on Friday, reaching $1.01. The company’s stock had a trading volume of 186,646 shares, compared to its average volume of 810,778. The business has a 50-day moving average price of $1.44 and a 200-day moving average price of $1.30. Cardiol Therapeutics has a 1-year low of $0.88 and a 1-year high of $2.34. The stock has a market capitalization of $122.71 million, a PE ratio of -4.04 and a beta of 1.03.

Analysts Set New Price Targets

Several brokerages recently issued reports on CRDL. Canaccord Genuity Group increased their price objective on Cardiol Therapeutics from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. B. Riley Financial initiated coverage on Cardiol Therapeutics in a research note on Wednesday, August 26th. They set a “buy” rating and a $11.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Cardiol Therapeutics in a report on Wednesday, September 23rd. Wall Street Zen raised shares of Cardiol Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cardiol Therapeutics in a research report on Monday, September 21st. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Cardiol Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $10.00.

Cardiol Therapeutics Company Profile

Cardiol Therapeutics is a Canadian biotechnology company developing therapies for inflammatory heart disease and other cardiovascular conditions. Its research focuses on treatments intended to address inflammation and related damage to the heart. The company’s lead candidate, CardiolRx, is a pharmaceutical-grade cannabidiol formulation under clinical investigation for conditions including myocarditis and pericarditis. Cardiol also has CRD-38, an investigational candidate being studied for potential use in heart failure.