Artelo Biosciences (NASDAQ:ARTL) Shares Up 11.3% – Time to Buy?

Artelo Biosciences, Inc. (NASDAQ:ARTL)’s stock price traded up 11.3% during mid-day trading on Friday . The stock traded as high as $9.80 and last traded at $7.97. 11,982,765 shares changed hands during mid-day trading, an increase of 294% from the average session volume of 3,038,467 shares. The stock had previously closed at $7.16.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Artelo Biosciences in a research report on Monday, December 29th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $54.00.

Artelo Biosciences Price Performance

The stock has a market capitalization of $5.66 million, a P/E ratio of -0.13 and a beta of 1.04. The stock’s 50-day simple moving average is $4.47 and its 200 day simple moving average is $7.70.

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.