Artelo Biosciences (NASDAQ:ARTL) Posts Quarterly Earnings Results

Artelo Biosciences (NASDAQ:ARTL) announced its earnings results on Wednesday. The company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.17), FiscalAI reports.

Artelo Biosciences Price Performance

Shares of ARTL stock traded down $0.01 on Wednesday, hitting $0.73. The company’s stock had a trading volume of 84,405 shares, compared to its average volume of 1,856,826. The stock has a market capitalization of $1.71 million, a price-to-earnings ratio of -0.02 and a beta of -0.07. Artelo Biosciences has a fifty-two week low of $0.71 and a fifty-two week high of $31.65. The firm’s fifty day moving average price is $1.09 and its 200-day moving average price is $3.11.

Analyst Upgrades and Downgrades

ARTL has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Artelo Biosciences in a research note on Wednesday, June 24th. Wall Street Zen upgraded shares of Artelo Biosciences from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $54.00.

About Artelo Biosciences

Artelo Biosciences, Inc is a clinical-stage biopharmaceutical company focused on the development of novel small-molecule therapies for pain, inflammation, ocular and cardiometabolic disorders. The company leverages a proprietary drug delivery and targeting platform designed to enhance the safety and efficacy profiles of well-characterized active pharmaceutical ingredients. Artelo’s approach is centered on repurposing and optimizing therapeutic molecules to address significant unmet medical needs, with particular emphasis on improving patient tolerability and clinical outcomes.

The company’s lead program, AB101, is an orally bioavailable ion channel modulator in development for neuropathic pain conditions including post-herpetic neuralgia.