Artelo Biosciences (ARTL) stock rocketed higher on Monday after the clinical-stage pharmaceutical company revealed pre-clinical data from ART12.11. This is the company’s cannabidiol and tetramethylpyrazine cocrystal drug candidate that may have a use as an antidepressant.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Artelo Biosciences noted that early data suggest ART12.11 has the potential to treat depression and cognitive deficits associated with chronic stress. This dual-action profile could make it a potential next-generation treatment candidate in the multi-billion-dollar antidepressant market.
ARTL stock was up 170.45% during pre-market trading on Monday, following an 8.88% drop in the prior trading day. The shares are up 58.02% year-to-date and 26.98% over the past 12 months. Today’s movement came with heavy trading, as some 2.6 million shares changed hands, compared to a three-month daily average of about 950,000 units.
Is Artelo Biosciences Stock a Buy, Sell, or Hold?
Turning to Wall Street, only one analyst has covered Artelo Biosciences over the past three months. D. Boral Capital analyst Jason Kolbert has a Hold rating and no price target for ARTL stock.
Spark, TipRanks’ AI analyst, also has Artelo Biosciences stock covered. It rates ARTL stock an Underperform (34) with no price target. Spark cites “substantial financial hurdles with no revenue and continuous losses” as reasons for this stance.
