Ladenburg Thalmann & Co. analyst Michael Higgins maintained a Buy rating on Artelo Biosciences (ARTL – Research Report) today and set a price target of $40.00.
Michael Higgins has given his Buy rating due to a combination of factors regarding Artelo Biosciences’s pipeline and market potential. The biopharmaceutical company’s focus on the development of proprietary therapeutics, particularly those targeting the endocannabinoid system, has been highlighted as a key strength. Artelo’s lead program, ART27.13, is currently in a Phase 1b/2a trial for cancer anorexia, a condition with no approved treatments, indicating a significant market opportunity. The company’s financial position is also deemed strong, with sufficient cash reserves to fund operations well into the second half of 2025, providing a stable runway for continued development.
Furthermore, the ART27.13 program’s safety profile, as evidenced by the absence of severe adverse events in preliminary studies, adds to the confidence in its potential and justifies the optimistic outlook. Additional pipeline candidates, such as ART26.12, have shown promise in preclinical models for various conditions, and with planned IND submissions and trial initiations, there is a clear path forward for further value creation. These elements collectively support Higgins’s Buy rating, as he anticipates the successful progression of these programs to have a positive impact on Artelo Biosciences’s stock valuation.
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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.
