Artelo Biosciences (NASDAQ:ARTL) Trading Up 11.3% – Still a Buy?

Artelo Biosciences, Inc. (NASDAQ:ARTL) was up 11.3% on Friday . The company traded as high as $9.80 and last traded at $7.97. Approximately 11,982,765 shares traded hands during trading, an increase of 294% from the average daily volume of 3,038,467 shares. The stock had previously closed at $7.16.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Artelo Biosciences in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $54.00.

Artelo Biosciences Stock Performance

The business’s fifty day moving average is $4.47 and its 200-day moving average is $7.56. The firm has a market cap of $5.66 million, a P/E ratio of -0.13 and a beta of 1.04.

About Artelo Biosciences

Artelo Biosciences, Inc is a clinical-stage biopharmaceutical company focused on the development of novel small-molecule therapies for pain, inflammation, ocular and cardiometabolic disorders. The company leverages a proprietary drug delivery and targeting platform designed to enhance the safety and efficacy profiles of well-characterized active pharmaceutical ingredients. Artelo’s approach is centered on repurposing and optimizing therapeutic molecules to address significant unmet medical needs, with particular emphasis on improving patient tolerability and clinical outcomes.

The company’s lead program, AB101, is an orally bioavailable ion channel modulator in development for neuropathic pain conditions including post-herpetic neuralgia.