Cardiol Therapeutics (NASDAQ:CRDL) Announces 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 the consensus estimate of ($0.06) by ($0.02), Zacks reports.

Cardiol Therapeutics Trading Up 3.0%

Shares of CRDL traded up $0.03 during trading hours on Thursday, reaching $1.04. 441,593 shares of the stock traded hands, compared to its average volume of 813,717. Cardiol Therapeutics has a 52-week low of $0.88 and a 52-week high of $2.34. The company’s 50-day moving average price is $1.46 and its two-hundred day moving average price is $1.30. The company has a market cap of $126.48 million, a P/E ratio of -4.16 and a beta of 1.03.

Analyst Ratings Changes

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

About Cardiol Therapeutics

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.