Arch Therapeutics Inc (NASDAQ:ARTH) Raised 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 report released on Tuesday, October 17th. The brokerage presently has a $0.75 price target on the biotechnology company’s stock. Zacks Investment Research‘s price target points to a potential downside of 1.32% from the company’s previous close.

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. “

ARTH has been the subject of several other reports. HC Wainwright set a $3.00 price target on shares of Arch Therapeutics and gave the stock a “buy” rating in a report on Thursday, July 27th. ValuEngine cut shares of Arch Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. Finally, Ifs Securities reissued an “outperform” rating on shares of Arch Therapeutics in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $2.31.

Shares of Arch Therapeutics (ARTH) traded up $0.04 during trading hours on Tuesday, hitting $0.76. 105,989 shares of the stock were exchanged, compared to its average volume of 268,418. Arch Therapeutics has a 1-year low of $0.41 and a 1-year high of $0.89.

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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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