Artelo Biosciences (NASDAQ:ARTL) Stock Price Up 0.8% – Should You Buy?

Artelo Biosciences, Inc. (NASDAQ:ARTL)’s share price shot up 0.8% during mid-day trading on Wednesday . The company traded as high as $12.49 and last traded at $12.37. 65,818 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 589,396 shares. The stock had previously closed at $12.27.

Analyst Ratings Changes

A number of brokerages have issued reports on ARTL. D. Boral Capital raised shares of Artelo Biosciences from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Tuesday, July 8th. D Boral Capital raised shares of Artelo Biosciences from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 8th. Two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Strong Buy” and a consensus price target of $25.00.

Artelo Biosciences Trading Up 0.8%

The stock’s 50 day moving average price is $10.42 and its two-hundred day moving average price is $7.74. The firm has a market capitalization of $8.66 million, a PE ratio of -0.69 and a beta of 1.34.

Artelo Biosciences (NASDAQ:ARTL) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($4.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.78) by ($3.54). Analysts expect that Artelo Biosciences, Inc. will post -2.62 earnings per share for the current year.

Artelo Biosciences Company Profile

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.