Cardiol Therapeutics (NASDAQ:CRDL) Issues Quarterly Earnings Results

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

Cardiol Therapeutics Stock Performance

Shares of CRDL traded up $0.03 during midday trading on Thursday, hitting $1.04. 441,593 shares of the company traded hands, compared to its average volume of 813,717. The stock has a market cap of $126.48 million, a price-to-earnings ratio of -4.16 and a beta of 1.03. The firm has a 50 day moving average of $1.46 and a 200-day moving average of $1.30. Cardiol Therapeutics has a 52 week low of $0.88 and a 52 week high of $2.34.

Analysts Set New Price Targets

CRDL has been the subject of several recent research reports. B. Riley Financial assumed coverage on Cardiol Therapeutics in a research report on Wednesday, August 26th. They set a “buy” rating and a $11.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $9.00 target price on shares of Cardiol Therapeutics in a report on Wednesday, September 23rd. Canaccord Genuity Group boosted their price objective on shares of Cardiol Therapeutics from $8.00 to $10.00 and gave the company a “buy” rating in a report on Monday, August 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cardiol Therapeutics in a report on Monday, September 21st. Finally, Wall Street Zen upgraded shares of Cardiol Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.