HC Wainwright Has Bearish Forecast for CRDL FY2028 Earnings

Cardiol Therapeutics Inc. (NASDAQ:CRDL) – Stock analysts at HC Wainwright reduced their FY2028 earnings per share (EPS) estimates for shares of Cardiol Therapeutics in a research report issued 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 currently has a “Buy” rating and a $9.00 target price 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.

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

Cardiol Therapeutics Price Performance

NASDAQ CRDL opened at $1.35 on Wednesday. Cardiol Therapeutics has a 1-year low of $0.88 and a 1-year high of $1.71. The firm has a market capitalization of $150.96 million, a P/E ratio of -4.82 and a beta of 0.77. The business’s 50-day simple moving average is $1.24 and its 200-day simple moving average is $1.10.

Cardiol Therapeutics (NASDAQ:CRDL) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.07).

Hedge Funds Weigh In On Cardiol Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Security National Bank of Sioux City Iowa IA acquired a new stake in shares of Cardiol Therapeutics during the fourth quarter valued at about $31,000. Simplex Trading LLC lifted its stake in shares of Cardiol Therapeutics by 96.9% in the fourth quarter. Simplex Trading LLC now owns 32,197 shares of the company’s stock worth $31,000 after acquiring an additional 15,842 shares in the last quarter. Boyer Financial Services Inc. purchased a new position in Cardiol Therapeutics in the fourth quarter valued at about $33,000. Bank of America Corp DE boosted its holdings in Cardiol Therapeutics by 136.2% in the second quarter. Bank of America Corp DE now owns 26,455 shares of the company’s stock valued at $36,000 after purchasing an additional 15,255 shares during the last quarter. Finally, Susquehanna International Group LLP grew its stake in Cardiol Therapeutics by 366.5% during the 3rd quarter. Susquehanna International Group LLP now owns 93,398 shares of the company’s stock valued at $100,000 after purchasing an additional 73,375 shares in the last quarter. 12.49% of the stock is owned by hedge funds and other institutional investors.

About Cardiol Therapeutics

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.