Cardiol Therapeutics (NASDAQ:CRDL) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Cardiol Therapeutics (NASDAQ:CRDL) announced its earnings results on Monday. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01, Zacks reports.

Cardiol Therapeutics Stock Performance

NASDAQ CRDL opened at $0.93 on Wednesday. The stock has a market cap of $76.63 million, a P/E ratio of -2.38 and a beta of 0.95. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.01. Cardiol Therapeutics has a twelve month low of $0.88 and a twelve month high of $3.12. The company’s 50-day simple moving average is $1.20 and its 200 day simple moving average is $1.51.

Analyst Upgrades and Downgrades

CRDL has been the topic of a number of research reports. RODMAN&RENSHAW raised shares of Cardiol Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 28th. Rodman & Renshaw started coverage on shares of Cardiol Therapeutics in a report on Tuesday, January 28th. They set a “buy” rating and a $7.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Cardiol Therapeutics in a research note on Monday, February 24th. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $8.40.

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.