Artelo Biosciences (NASDAQ:ARTL) Stock Price Up 4.1% – Still a Buy?

Artelo Biosciences, Inc. (NASDAQ:ARTL)’s stock price was up 4.1% on Monday . The company traded as high as $4.19 and last traded at $4.10. Approximately 71,837 shares were traded during trading, a decline of 24% from the average daily volume of 93,924 shares. The stock had previously closed at $3.94.

Artelo Biosciences News Roundup

Here are the key news stories impacting Artelo Biosciences this week:

• Positive Sentiment: Artelo filed a new provisional patent application covering ART27.13 for obesity as a standalone treatment and in combination with GLP-1 receptor agonists such as semaglutide. The filing potentially broadens intellectual-property protection around the candidate and its use in the large obesity-treatment market. Artelo Biosciences Files New Provisional Patent Application Covering ART27.13
• Positive Sentiment: In a four-week study involving obese mice, ART27.13 reportedly produced approximately 20% weight loss as a monotherapy and about 40% when combined with semaglutide. The company said the monotherapy result was comparable to semaglutide, while the combination result suggests possible additive or synergistic potential. Artelo Expands ART27.13 Patent Coverage After Obesity Study Findings
• Positive Sentiment: The patent announcement triggered substantial investor interest, with reports describing a sharp advance in ARTL and trading volume far above its typical average. Artelo Biosciences Stock Surges Wednesday

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Artelo Biosciences in a report on Monday. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

Artelo Biosciences Stock Up 76.1%

The firm has a market capitalization of $4.02 million, a PE ratio of -0.05 and a beta of -0.07. The firm’s 50-day moving average price is $6.75 and its two-hundred day moving average price is $21.20.

Artelo Biosciences (NASDAQ:ARTL) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.89) EPS for the quarter, topping analysts’ consensus estimates of ($6.48) by $5.59.

Artelo Biosciences Company Profile

Artelo Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing therapeutics that target the endocannabinoid system, a network of receptors and signaling pathways involved in processes such as pain, inflammation, appetite and immune response. The company is headquartered in San Diego, California, and its research and development activities are directed toward pharmaceutical applications of cannabinoid biology rather than consumer cannabis products.

Artelo’s pipeline has included ART27.13, a peripherally restricted cannabinoid receptor agonist being evaluated for conditions associated with appetite loss and cancer-related cachexia.