Artelo Biosciences (NASDAQ:ARTL) Posts Earnings Results, Misses Expectations By $0.02 EPS

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

Artelo Biosciences stock opened at $0.48 on Thursday. The firm has a market cap of $20.11 million, a price-to-earnings ratio of -1.13 and a beta of 2.04. Artelo Biosciences has a 52 week low of $0.44 and a 52 week high of $3.67. The business’s 50-day moving average price is $0.67 and its 200 day moving average price is $0.83.

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

A hedge fund recently raised its stake in Artelo Biosciences stock. Geode Capital Management LLC increased its stake in shares of Artelo Biosciences, Inc. (NASDAQ:ARTL) by 15.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 162,750 shares of the company’s stock after acquiring an additional 22,139 shares during the period. Geode Capital Management LLC owned about 0.66% of Artelo Biosciences worth $128,000 as of its most recent filing with the Securities & Exchange Commission. 4.70% of the stock is owned by institutional investors.

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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