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

Artelo Biosciences (NASDAQ:ARTL) released its earnings results on Wednesday. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02), MarketWatch Earnings reports.

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

A number of research firms have weighed in on ARTL. Maxim Group began coverage on shares of Artelo Biosciences in a research report on Friday, October 8th. They set a “buy” rating and a $3.00 target price for the company. Zacks Investment Research raised shares of Artelo Biosciences from a “hold” rating to a “buy” rating and set a $0.75 price objective for the company in a research report on Thursday, December 2nd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $4.00 price objective on shares of Artelo Biosciences in a research report on Tuesday, November 30th.

An institutional investor recently raised its position in Artelo Biosciences stock. Geode Capital Management LLC increased its position in Artelo Biosciences, Inc. (NASDAQ:ARTL) by 15.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,750 shares of the company’s stock after purchasing an additional 22,139 shares during the period. Geode Capital Management LLC owned approximately 0.66% of Artelo Biosciences worth $128,000 at the end of the most recent quarter. Institutional investors own 4.70% of the company’s stock.

Artelo Biosciences Company Profile

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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