Artelo Biosciences (NASDAQ:ARTL) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

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

Artelo Biosciences Price Performance

Artelo Biosciences stock traded down $0.02 during mid-day trading on Thursday, reaching $1.08. 14,651 shares of the company traded hands, compared to its average volume of 33,631. The firm’s fifty day moving average is $1.16 and its two-hundred day moving average is $1.28. The company has a market capitalization of $3.49 million, a price-to-earnings ratio of -0.38 and a beta of 1.35. Artelo Biosciences has a fifty-two week low of $1.00 and a fifty-two week high of $1.75.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. EF Hutton Acquisition Co. I upgraded Artelo Biosciences to a “strong-buy” rating in a report on Tuesday, October 1st. HC Wainwright reaffirmed a “buy” rating and set a $5.00 target price on shares of Artelo Biosciences in a research report on Wednesday.

About Artelo Biosciences

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.