HC Wainwright Equities Analysts Cut Earnings Estimates for Artelo Biosciences, Inc. (NASDAQ:ARTL)

Posted by on Oct 20th, 2023

Artelo Biosciences, Inc. (NASDAQ:ARTL – Free Report) – Research analysts at HC Wainwright decreased their Q3 2023 EPS estimates for shares of Artelo Biosciences in a research note issued on Tuesday, October 17th. HC Wainwright analyst V. Bernardino now anticipates that the company will earn ($0.70) per share for the quarter, down from their previous estimate of ($0.39). The consensus estimate for Artelo Biosciences’ current full-year earnings is ($1.66) per share. HC Wainwright also issued estimates for Artelo Biosciences’ Q4 2023 earnings at ($0.29) EPS, FY2023 earnings at ($1.95) EPS and FY2024 earnings at ($0.76) EPS.

Artelo Biosciences (NASDAQ:ARTL – Get Free Report) last announced its earnings results on Thursday, August 10th. The company reported ($0.56) earnings per share for the quarter, topping the consensus estimate of ($0.93) by $0.37.

Artelo Biosciences Stock Performance

Shares of Artelo Biosciences stock opened at $1.43 on Thursday. The company has a fifty day simple moving average of $1.67 and a 200-day simple moving average of $1.89. Artelo Biosciences has a 12-month low of $1.34 and a 12-month high of $3.50. The stock has a market cap of $4.09 million, a price-to-earnings ratio of -0.43 and a beta of 1.39.

Institutional Trading of Artelo Biosciences

Large investors have recently bought and sold shares of the business. Two Sigma Investments LP purchased a new position in shares of Artelo Biosciences in the 3rd quarter valued at about $37,000. Two Sigma Advisers LP purchased a new position in Artelo Biosciences during the 3rd quarter valued at about $121,000. Finally, Renaissance Technologies LLC increased its holdings in Artelo Biosciences by 67.8% during the 1st quarter. Renaissance Technologies LLC now owns 182,619 shares of the company’s stock valued at $82,000 after acquiring an additional 73,819 shares in the last quarter. Institutional investors and hedge funds own 1.38% of the company’s stock.

About Artelo Biosciences

(Get Free Report)

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 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 of inflammatory bowel disease and post-traumatic stress disorder (PTSD); and ART26.12, a fatty acid binding protein 5 inhibitor for treating breast and prostate cancer, neuropathic and nociceptive pain, and anxiety disorders, including PTSD.

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