Artelo Biosciences Analyst See It As An Emerging Biotech
D. Boral Capital upgraded Artelo Biosciences, Inc. (NASDAQ:ARTL) on Tuesday.
The analyst upgraded from Hold to Buy and introduced a price forecast of $20.
Analyst Jason Kolbert wrote, “We continue to view Artelo as an emerging biotechnology company focused on Cachexia and chemotherapy-induced peripheral neuropathy (CIN) with the lead program.”
ART27.13 is a Phase 2 asset, a selective benzimadazole agonist acquired from AstraZeneca Plc (NASDAQ:AZN).
The analyst wrote that ART27.13 showed potential to stimulate appetite and promote weight gain, which offered a novel approach to improving the quality of life of cancer patients.
AstraZeneca invested millions to develop the drug. It was noted that a side effect was weight gain.
ART26.12 is the second asset licensed from the University of Stonybrook.
“ART26.12 appears to protect nerves from damage without compromising the efficacy …