Artelo Biosciences, Inc. (NASDAQ:ARTL) Expected to Post Q2 2023 Earnings of ($0.93) Per Share

Artelo Biosciences, Inc. (NASDAQ:ARTLGet Rating) – Equities research analysts at HC Wainwright boosted their Q2 2023 EPS estimates for Artelo Biosciences in a note issued to investors on Thursday, May 18th. HC Wainwright analyst V. Bernardino now expects that the company will post earnings of ($0.93) per share for the quarter, up from their prior estimate of ($1.14). HC Wainwright has a “Buy” rating and a $55.00 price target on the stock. The consensus estimate for Artelo Biosciences’ current full-year earnings is ($1.85) per share. HC Wainwright also issued estimates for Artelo Biosciences’ Q3 2023 earnings at ($0.39) EPS, Q4 2023 earnings at ($0.28) EPS, FY2023 earnings at ($1.74) EPS and FY2024 earnings at ($1.09) EPS.

Separately, LADENBURG THALM/SH SH restated a “buy” rating and issued a $60.00 target price on shares of Artelo Biosciences in a report on Monday, April 3rd.

Artelo Biosciences Stock Performance

Artelo Biosciences stock opened at $1.77 on Monday. Artelo Biosciences has a 1 year low of $1.39 and a 1 year high of $7.20. The firm has a 50 day moving average price of $2.14 and a 200 day moving average price of $2.63. The company has a market cap of $5.06 million, a price-to-earnings ratio of -0.48 and a beta of 1.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ARTL. Renaissance Technologies LLC lifted its position in Artelo Biosciences by 67.8% during the first quarter. Renaissance Technologies LLC now owns 182,619 shares of the company’s stock valued at $82,000 after buying an additional 73,819 shares in the last quarter. Two Sigma Investments LP acquired a new position in Artelo Biosciences during the third quarter valued at approximately $37,000. Finally, Two Sigma Advisers LP acquired a new position in Artelo Biosciences during the third quarter valued at approximately $121,000. 4.72% of the stock is owned by institutional investors and hedge funds.

About Artelo Biosciences

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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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