Artelo Biosciences (NASDAQ:ARTL) Announces Quarterly Earnings Results

Artelo Biosciences (NASDAQ:ARTL) posted its quarterly earnings data on Wednesday. The company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.02), MarketWatch Earnings reports.

Shares of ARTL traded down $0.00 during midday trading on Friday, reaching $0.43. The stock had a trading volume of 6,300 shares, compared to its average volume of 681,841. The company’s 50-day moving average is $0.66 and its 200 day moving average is $0.82. Artelo Biosciences has a 12-month low of $0.43 and a 12-month high of $3.67. The company has a market capitalization of $18.11 million, a price-to-earnings ratio of -1.19 and a beta of 2.04.

Several analysts have issued reports on the company. Zacks Investment Research upgraded Artelo Biosciences from a “hold” rating to a “buy” rating and set a $0.75 target price on the stock in a research note on Thursday, December 2nd. HC Wainwright restated a “buy” rating and issued a $4.00 target price on shares of Artelo Biosciences in a research note on Tuesday, November 30th. Finally, Maxim Group began coverage on Artelo Biosciences in a research note on Friday, October 8th. They issued a “buy” rating and a $3.00 target price on the stock.

An institutional investor recently raised its position in Artelo Biosciences stock. Geode Capital Management LLC lifted its position in Artelo Biosciences, Inc. (NASDAQ:ARTL) by 15.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 162,750 shares of the company’s stock after purchasing an additional 22,139 shares during the quarter. Geode Capital Management LLC owned 0.66% of Artelo Biosciences worth $128,000 at the end of the most recent quarter. Institutional investors and hedge funds own 4.70% of the company’s stock.

About Artelo Biosciences

Artelo Biosciences, Inc is a clinical stage biopharmaceutical company, which focuses on the development of therapeutics that target lipid-signaling pathways, including the endocannabinoid system. Its product candidate pipeline includes ART27.13-Synthetic Cannabinoid Agonist, ART26.12-FABP5 inhibitor, and ART12.11-Synthetic CBD Cocrystal.

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Earnings History for Artelo Biosciences (NASDAQ:ARTL)

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