Artelo Biosciences (NASDAQ:ARTL) Posts Earnings Results

Artelo Biosciences (NASDAQ:ARTL) announced its quarterly earnings results on Wednesday. The company reported ($3.97) earnings per share (EPS) for the quarter, FiscalAI reports.

Artelo Biosciences Stock Performance

NASDAQ ARTL traded down $0.15 during trading on Wednesday, reaching $1.82. 105,531 shares of the company traded hands, compared to its average volume of 280,925. Artelo Biosciences has a 1-year low of $1.66 and a 1-year high of $28.60. The stock’s 50 day moving average price is $4.29 and its two-hundred day moving average price is $7.55. The company has a market cap of $1.27 million, a price-to-earnings ratio of -0.10 and a beta of 1.23.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. D. Boral Capital reissued a “hold” rating on shares of Artelo Biosciences in a report on Monday, September 8th. Wall Street Zen downgraded shares of Artelo Biosciences to a “strong sell” rating in a research note on Saturday, August 9th. D Boral Capital downgraded shares of Artelo Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Artelo Biosciences in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $24.00.

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.