Maxim Group Issues a Buy Rating on Artelo Biosciences (ARTL)

In a report released yesterday, Jason McCarthy from Maxim Group assigned a Buy rating to Artelo Biosciences (ARTLResearch Report), with a price target of $5.00. The company’s shares closed last Tuesday at $1.36.

According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 40.8% and a 50.3% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Appili Therapeutics Inc Class A, Brainstorm Cell Therapeutics, and Lineage Cell Therapeutics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Artelo Biosciences with a $6.00 average price target.

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Artelo Biosciences’ market cap is currently $21.68M and has a P/E ratio of -1.60. The company has a Price to Book ratio of 3.54.

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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.