Artelo Biosciences (NASDAQ:ARTL) Releases Earnings Results, Misses Estimates By $0.17 EPS

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

Artelo Biosciences Stock Down 1.6%

Shares of Artelo Biosciences stock opened at $0.73 on Thursday. Artelo Biosciences has a twelve month low of $0.71 and a twelve month high of $31.65. The business has a 50-day moving average price of $1.07 and a 200-day moving average price of $3.08. The firm has a market cap of $1.71 million, a price-to-earnings ratio of -0.02 and a beta of -0.07.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Artelo Biosciences in a research note on Wednesday, June 24th. Wall Street Zen raised shares of Artelo Biosciences from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Two equities research 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, the company currently has an average rating of “Reduce” and an average target price 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.