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

Artelo Biosciences (NASDAQ:ARTL) posted its earnings results 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 Price Performance

Shares of NASDAQ:ARTL traded down $0.05 on Wednesday, reaching $1.12. 17,281 shares of the company traded hands, compared to its average volume of 33,616. Artelo Biosciences has a fifty-two week low of $1.00 and a fifty-two week high of $1.75. The company’s 50 day moving average is $1.16 and its 200-day moving average is $1.28.

Analysts Set New Price Targets

A number of research firms recently issued reports on ARTL. EF Hutton Acquisition Co. I upgraded Artelo Biosciences to a “strong-buy” rating in a research note on Tuesday, October 1st. HC Wainwright reiterated a “buy” rating and issued a $5.00 target price on shares of Artelo Biosciences in a report 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.