Artelo Biosciences, Inc. (NASDAQ:ARTL) Expected to Post Earnings of -$0.06 Per Share

Wall Street brokerages expect that Artelo Biosciences, Inc. (NASDAQ:ARTLGet Rating) will report earnings per share of ($0.06) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Artelo Biosciences’ earnings. Artelo Biosciences reported earnings of ($0.11) per share in the same quarter last year, which would indicate a positive year over year growth rate of 45.5%. The firm is scheduled to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Artelo Biosciences will report full-year earnings of ($0.29) per share for the current fiscal year, with EPS estimates ranging from ($0.30) to ($0.27). For the next year, analysts anticipate that the firm will post earnings of ($0.27) per share, with EPS estimates ranging from ($0.28) to ($0.26). Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that cover Artelo Biosciences.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Artelo Biosciences from a “sell” rating to a “hold” rating in a research note on Wednesday, March 16th. HC Wainwright reissued a “buy” rating and set a $4.00 target price on shares of Artelo Biosciences in a report on Tuesday, April 12th.

NASDAQ ARTL opened at $0.37 on Friday. Artelo Biosciences has a 12-month low of $0.34 and a 12-month high of $1.44. The company has a fifty day simple moving average of $0.42 and a 200 day simple moving average of $0.56. The company has a market cap of $15.57 million, a P/E ratio of -1.02 and a beta of 2.04.

Large investors have recently made changes to their positions in the business. Citadel Advisors LLC increased its holdings in shares of Artelo Biosciences by 181.8% in the 4th quarter. Citadel Advisors LLC now owns 78,586 shares of the company’s stock worth $41,000 after buying an additional 50,702 shares during the last quarter. Virtu Financial LLC boosted its holdings in shares of Artelo Biosciences by 319.1% in the 4th quarter. Virtu Financial LLC now owns 180,282 shares of the company’s stock worth $94,000 after purchasing an additional 137,270 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Artelo Biosciences by 15.7% during the 3rd quarter. Geode Capital Management LLC now owns 162,750 shares of the company’s stock valued at $128,000 after purchasing an additional 22,139 shares during the last quarter. 4.73% of the stock is owned by hedge funds and other institutional investors.

Artelo Biosciences Company Profile (Get Rating)

Artelo Biosciences, Inc, a clinical stage biopharmaceutical company, focuses on developing and commercializing treatments to modulate the endocannabinoid system. Its product candidate pipeline includes ART27.13, a synthetic 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 of inflammatory bowel disease and post-traumatic stress disorder (PTSD); and ART26.12, a fatty acid binding protein 5 inhibitor for prostate and breast cancer treatment, as well as for treating PTSD.

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