Artelo Biosciences (NASDAQ:ARTL) Posts Earnings Results, Beats Expectations By $3.83 EPS

Artelo Biosciences (NASDAQ:ARTL) announced its earnings results on Thursday. The company reported ($3.19) earnings per share for the quarter, topping the consensus estimate of ($7.02) by $3.83, FiscalAI reports.

Artelo Biosciences Trading Down 2.1%

Shares of ARTL traded down $0.05 during mid-day trading on Thursday, hitting $2.15. The company’s stock had a trading volume of 28,000 shares, compared to its average volume of 288,320. The firm has a 50-day simple moving average of $3.64 and a 200 day simple moving average of $20.18. The firm has a market capitalization of $1.18 million, a P/E ratio of -0.01 and a beta of 0.01. Artelo Biosciences has a 1-year low of $1.91 and a 1-year high of $179.19.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Artelo Biosciences in a research report on Monday, September 21st. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Artelo Biosciences Company Profile

Artelo Biosciences, Inc. is a clinical-stage biopharmaceutical company focused on developing therapeutics that target the endocannabinoid system, a biological signaling network involved in areas such as pain, appetite, inflammation and cancer. The company’s programs are designed to address unmet medical needs in oncology and other therapeutic areas. Artelo’s development pipeline has included ART27.13, a peripherally restricted cannabinoid receptor type 1 agonist being investigated for cancer-related anorexia and cachexia.