Artelo Biosciences (NASDAQ:ARTL) Posts Quarterly Earnings Results, Beats Expectations By $5.59 EPS

Artelo Biosciences (NASDAQ:ARTL) released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($6.48) by $5.59, Zacks reports.

Artelo Biosciences Stock Up 6.0%

ARTL traded up $0.37 during trading on Wednesday, hitting $6.53. The company’s stock had a trading volume of 32,519 shares, compared to its average volume of 200,043. Artelo Biosciences has a twelve month low of $4.68 and a twelve month high of $243.00. The firm has a market capitalization of $3.58 million, a P/E ratio of -0.39 and a beta of -0.07. The stock’s fifty day moving average price is $8.14 and its 200-day moving average price is $24.15.

Analysts Set New Price Targets

Several research analysts have weighed in on ARTL shares. Wall Street Zen raised Artelo Biosciences from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Artelo Biosciences in a research report on Wednesday, June 24th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Artelo Biosciences presently has an average rating of “Reduce”.

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.