FY2028 EPS Forecast for Cardiol Therapeutics Cut by Analyst

Cardiol Therapeutics Inc. (NASDAQ:CRDL) – HC Wainwright decreased their FY2028 earnings estimates for shares of Cardiol Therapeutics in a research report issued to clients and investors on Tuesday, May 12th. HC Wainwright analyst B. Folkes now expects that the company will earn $0.30 per share for the year, down from their prior forecast of $0.32. HC Wainwright has a “Buy” rating and a $9.00 price objective on the stock. The consensus estimate for Cardiol Therapeutics’ current full-year earnings is ($0.29) per share. HC Wainwright also issued estimates for Cardiol Therapeutics’ FY2029 earnings at $0.63 EPS and FY2030 earnings at $1.43 EPS.

Cardiol Therapeutics (NASDAQ:CRDL) last released its earnings results on Monday, May 11th. The company reported ($0.07) earnings per share for the quarter, hitting the consensus estimate of ($0.07).

Several other brokerages have also recently issued reports on CRDL. upgraded Cardiol Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 3rd. Canaccord Genuity Group reiterated a “buy” rating and issued a $8.00 target price on shares of Cardiol Therapeutics in a research report on Monday, April 6th. Finally, Wall Street Zen upgraded Cardiol Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, April 5th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.50.

Cardiol Therapeutics Stock Performance

NASDAQ:CRDL opened at $1.35 on Wednesday. The company has a market capitalization of $150.96 million, a price-to-earnings ratio of -4.82 and a beta of 0.77. Cardiol Therapeutics has a one year low of $0.88 and a one year high of $1.71. The stock has a 50-day simple moving average of $1.24 and a 200 day simple moving average of $1.10.

Hedge Funds Weigh In On Cardiol Therapeutics

A number of large investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its holdings in shares of Cardiol Therapeutics by 136.2% in the 2nd quarter. Bank of America Corp DE now owns 26,455 shares of the company’s stock worth $36,000 after purchasing an additional 15,255 shares during the last quarter. Simplex Trading LLC boosted its position in Cardiol Therapeutics by 96.9% during the 4th quarter. Simplex Trading LLC now owns 32,197 shares of the company’s stock valued at $31,000 after purchasing an additional 15,842 shares during the period. Security National Bank of Sioux City Iowa IA bought a new position in Cardiol Therapeutics during the 4th quarter worth $31,000. Boyer Financial Services Inc. acquired a new stake in Cardiol Therapeutics in the fourth quarter worth $33,000. Finally, AdvisorShares Investments LLC increased its position in Cardiol Therapeutics by 7.3% in the fourth quarter. AdvisorShares Investments LLC now owns 597,977 shares of the company’s stock worth $570,000 after buying an additional 40,589 shares during the period. Institutional investors own 12.49% of the company’s stock.

Cardiol Therapeutics Company Profile

Cardiol Therapeutics Inc (NASDAQ: CRDL) is a clinical-stage pharmaceutical company dedicated to developing immunomodulatory treatments for patients with cardiovascular disease. The company’s lead asset, CardiolRx, is a proprietary, pharmaceutical-grade cannabidiol (CBD) formulation designed to target the inflammation and oxidative stress underlying conditions such as acute myocardial injury and heart failure. Cardiol holds exclusive global rights to CardiolRx through a licensing partnership and is advancing additional preclinical programs focused on small-molecule immunotherapies for heart disease.

CardiolRx is formulated for oral administration and has been evaluated in a randomized, placebo-controlled Phase 2 myocardial protection study assessing safety and key biomarkers following acute coronary syndromes.