Artelo Biosciences (NASDAQ:ARTL) Announces Quarterly Earnings Results, Misses Estimates By $3.22 EPS

Artelo Biosciences (NASDAQ:ARTL) issued its earnings results on Thursday. The company reported ($4.00) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($3.22), FiscalAI reports.

Artelo Biosciences Trading Down 21.4%

Shares of ARTL stock traded down $0.50 during trading hours on Friday, reaching $1.84. 8,141,547 shares of the stock were exchanged, compared to its average volume of 1,853,581. Artelo Biosciences has a 12-month low of $1.77 and a 12-month high of $85.80. The company’s 50-day moving average price is $4.88 and its 200-day moving average price is $5.03. The firm has a market capitalization of $1.73 million, a price-to-earnings ratio of -0.03 and a beta of 0.05.

Analysts Set New Price Targets

A number of brokerages have issued reports on ARTL. Wall Street Zen upgraded shares of Artelo Biosciences from a “strong sell” rating to a “sell” rating in a report on Saturday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Artelo Biosciences in a research note on Friday, March 27th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $54.00.

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.