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

Artelo Biosciences (NASDAQ:ARTL) announced its quarterly earnings data on Tuesday. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.06, Zacks reports.

Artelo Biosciences Trading Down 4.3 %

Shares of ARTL stock traded down $0.05 on Wednesday, hitting $1.12. The company had a trading volume of 17,682 shares, compared to its average volume of 33,618. Artelo Biosciences has a twelve month low of $1.00 and a twelve month high of $1.75. The stock’s 50-day moving average is $1.16 and its two-hundred day moving average is $1.28.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ARTL. HC Wainwright restated a “buy” rating and set a $5.00 target price on shares of Artelo Biosciences in a research note on Wednesday. EF Hutton Acquisition Co. I upgraded Artelo Biosciences to a “strong-buy” rating in a research report on Tuesday, October 1st.

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.