Artelo Biosciences (NASDAQ:ARTL) Announces Quarterly Earnings Results

Artelo Biosciences (NASDAQ:ARTL) announced its earnings results on Tuesday. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.06, Zacks reports.

Artelo Biosciences Stock Down 5.4 %

Artelo Biosciences stock traded down $0.06 during midday trading on Thursday, reaching $1.04. The stock had a trading volume of 11,621 shares, compared to its average volume of 33,617. The firm has a market capitalization of $3.36 million, a PE ratio of -0.37 and a beta of 1.35. Artelo Biosciences has a 12 month low of $1.00 and a 12 month high of $1.75. The firm’s 50-day moving average price is $1.16 and its 200 day moving average price is $1.28.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ARTL shares. EF Hutton Acquisition Co. I upgraded shares of Artelo Biosciences to a “strong-buy” rating in a report on Tuesday, October 1st. HC Wainwright restated a “buy” rating and set a $5.00 price target on shares of Artelo Biosciences in a research note on Wednesday.

Artelo Biosciences Company Profile

Artelo Biosciences, Inc, a clinical stage biopharmaceutical company, develops and commercializes therapeutics that target lipid-signaling pathways in the United States. It's product candidate pipeline includes ART27.13, a synthetic dual cannabinoid G protein-coupled receptor agonist, which is in Phase 1b/2a clinical trial for the treatment of anorexia associated with cancer; ART12.11, a synthetic cannabidiol cocrystal for the treatment anxiety, post-traumatic stress disorder, epilepsy, inflammatory bowel disease, and other potential indications; and ART26.12, a fatty acid binding protein 5 inhibitor for treating chemotherapy induced peripheral neuropathy, diabetic neuropathy, prostate cancer and breast cancer, pain, dermatologic conditions, and anxiety disorders.