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

Artelo Biosciences (NASDAQ:ARTL) posted its earnings results on Tuesday. The company reported ($0.35) EPS for the quarter, beating 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 during mid-day trading on Wednesday, hitting $1.12. 17,682 shares of the stock were exchanged, compared to its average volume of 33,618. The firm has a fifty day moving average of $1.16 and a 200 day moving average of $1.28. Artelo Biosciences has a 52-week low of $1.00 and a 52-week high of $1.75.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ARTL. EF Hutton Acquisition Co. I raised Artelo Biosciences to a “strong-buy” rating in a report on Tuesday, October 1st. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Artelo Biosciences in a report on Wednesday.

About Artelo Biosciences

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.