Arch Therapeutics (OTCMKTS:ARTH) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Arch Therapeutics (OTCMKTS:ARTH) from a hold rating to a buy rating in a report published on Thursday, March 8th. Zacks Investment Research currently has $0.50 price target on the biotechnology company’s stock.

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. “

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Other equities analysts have also recently issued reports about the stock. HC Wainwright set a $3.00 price target on shares of Arch Therapeutics and gave the stock a buy rating in a research note on Tuesday, December 19th. ValuEngine downgraded Arch Therapeutics from a hold rating to a sell rating in a report on Friday, November 17th. Finally, Ifs Securities raised Arch Therapeutics from an outperform rating to a strong-buy rating in a report on Monday, February 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $2.17.

Shares of ARTH traded down $0.01 during mid-day trading on Thursday, hitting $0.31. 259,960 shares of the company’s stock were exchanged, compared to its average volume of 405,434. Arch Therapeutics has a 52 week low of $0.25 and a 52 week high of $0.89.

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About Arch Therapeutics

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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