Cardiol Therapeutics (NASDAQ:CRDL) Announces Quarterly Earnings Results

Cardiol Therapeutics (NASDAQ:CRDL) released its quarterly earnings data on Monday. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01, Zacks reports.

Cardiol Therapeutics Trading Up 1.0 %

Shares of NASDAQ:CRDL traded up $0.01 during trading on Monday, reaching $0.97. The company’s stock had a trading volume of 140,556 shares, compared to its average volume of 386,191. The stock has a market capitalization of $80.11 million, a PE ratio of -2.49 and a beta of 0.95. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.01. The firm’s 50 day simple moving average is $1.21 and its two-hundred day simple moving average is $1.53. Cardiol Therapeutics has a 12 month low of $0.88 and a 12 month high of $3.12.

Wall Street Analysts Forecast Growth

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