Arch Therapeutics Inc (NASDAQ:ARTH) Rating Increased to Buy at Zacks Investment Research

Arch Therapeutics Inc (NASDAQ:ARTH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, October 17th. The brokerage currently has a $0.75 target price on the biotechnology company’s stock. Zacks Investment Research‘s price objective suggests a potential downside of 4.51% from the company’s current price.

According to Zacks, “Arch Therapeutics, Inc. is a medical device company. It develops products that make surgery and interventional care faster and safer by using an approach to stop bleeding, control leaking, and provide other advantages during surgery and trauma care. The Company’s lead product candidate includes AC5 (TM), a biocompatible synthetic peptide, to achieve hemostasis in minimally invasive and open surgical procedures. Arch Therapeutics, Inc. is headquartered in Wellesley, Massachusetts. “

A number of other brokerages have also recently commented on ARTH. HC Wainwright reiterated a “buy” rating and issued a $3.00 target price on shares of Arch Therapeutics in a research report on Monday, September 18th. Ifs Securities reissued an “outperform” rating on shares of Arch Therapeutics in a report on Tuesday, July 25th. Finally, ValuEngine lowered shares of Arch Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, October 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $2.31.

Arch Therapeutics (ARTH) opened at 0.7854 on Tuesday. The firm’s 50 day moving average is $0.80 and its 200 day moving average is $0.64. Arch Therapeutics has a 52-week low of $0.41 and a 52-week high of $0.89. The company’s market cap is $115.47 million.

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Arch Therapeutics Company Profile

Arch Therapeutics, Inc is a development-stage company. The Company operates as a biotechnology company. The Company focuses on developing products to stop bleeding (hemostasis) and control leaking (sealant) during surgery and trauma care. The Company’s technology is based on a self-assembling peptide that creates a physical, mechanical barrier, which could be applied to seal organs or wounds that are leaking blood and other fluids.

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