Artelo Biosciences: A Strong Buy on Robust Pipeline and Financial Health

In a report released today, Michael Higgins from Ladenburg Thalmann & Co. maintained a Buy rating on Artelo Biosciences (ARTL – Research Report), with a price target of $40.00.

Michael Higgins has given his Buy rating due to a combination of factors including the company’s solid development pipeline and its recent financial performance. Artelo Biosciences, a San Diego-based biopharmaceutical company, is working on three main proprietary therapeutics that target the endocannabinoid system—a market with significant growth potential. Higgins highlights the company’s most valuable program, ART27.13, which is currently being tested in a Phase 1b/2 trial for cancer anorexia and is showing promising safety and tolerability. Additionally, the company’s financials exceeded expectations, with lower operational expenses not seen in the previous three quarters, indicating efficient management and cost control.

Furthermore, Artelo’s diverse portfolio, including ART26.12—a first-in-class selective FABP5 inhibitor—and ART12.11—a cocrystal of cannabidiol and tetramethylpyrazine—bolster the company’s prospects. The latter has shown preclinical evidence of superior efficacy compared to CBD alone. Higgins also points out the upcoming clinical and regulatory catalysts scheduled for 2024, which include several key milestones such as IND submissions, Phase 1 trial commencements, and enrollment completion for the Phase 2a CAReS study. These upcoming milestones are likely to provide significant data and could act as positive drivers for the stock’s performance.

According to TipRanks, Higgins is a 3-star analyst with an average return of 3.4% and a 33.81% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Achieve Life Sciences, Marinus, and Astria Therapeutics.

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Artelo Biosciences (ARTL) Company Description:

Artelo Biosciences, Inc. is a development stage company, which engages in discovering, licensing, developing and commercializing treatments that modulate the endocannabinoid system. The company was founded by James Manley on May 2, 2011 and is headquartered in San Diego, CA.