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

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

Artelo Biosciences Stock Down 9.4 %

Artelo Biosciences stock opened at $1.06 on Thursday. The company has a market capitalization of $3.42 million, a PE ratio of -0.37 and a beta of 1.35. Artelo Biosciences has a 12-month low of $1.00 and a 12-month high of $1.75. The firm’s fifty day moving average is $1.16 and its 200 day moving average is $1.28.

Wall Street Analyst Weigh In

A number of analysts have commented on ARTL shares. EF Hutton Acquisition Co. I raised shares of Artelo Biosciences to a “strong-buy” rating in a research report on Tuesday, October 1st. HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Artelo Biosciences in a research note on Wednesday.

Artelo Biosciences Company Profile

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.