Artelo Biosciences (NASDAQ:ARTL) Shares Up 11.3% – Here’s Why

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Artelo Biosciences in a research 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. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $54.00.

Artelo Biosciences Price Performance

The firm has a market cap of $5.66 million, a P/E ratio of -0.13 and a beta of 1.04. The stock’s 50-day moving average price is $4.47 and its 200 day moving average price is $7.70.

Artelo Biosciences Company Profile

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.