Artelo Biosciences (NASDAQ:ARTL) Issues Earnings Results

Artelo Biosciences (NASDAQ:ARTL) released its quarterly earnings data on Wednesday. The company reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.17), FiscalAI reports.

Artelo Biosciences Stock Performance

Artelo Biosciences stock traded up $0.06 during midday trading on Friday, hitting $0.81. 17,453 shares of the company’s stock were exchanged, compared to its average volume of 1,834,599. The stock has a market cap of $1.90 million, a price-to-earnings ratio of -0.02 and a beta of -0.07. Artelo Biosciences has a 12-month low of $0.71 and a 12-month high of $31.65. The firm’s 50 day simple moving average is $1.06 and its 200 day simple moving average is $3.05.

Wall Street Analyst Weigh In

Several brokerages recently commented on ARTL. Weiss Ratings reiterated 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 research note on Saturday, May 16th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Artelo Biosciences presently has a consensus rating of “Reduce” and an average price target of $54.00.

Artelo Biosciences Company Profile

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.