Zacks Investment Research Lowers Arch Therapeutics (OTCMKTS:ARTH) to Hold

Zacks Investment Research lowered shares of Arch Therapeutics (OTCMKTS:ARTH) from a buy rating to a hold rating in a research note issued to investors on Monday, March 19th.

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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Several other equities research analysts also recently issued reports on ARTH. HC Wainwright set a $3.00 price target on Arch Therapeutics and gave the stock a buy rating in a report on Tuesday, December 19th. Ifs Securities upgraded Arch Therapeutics from an outperform rating to a strong-buy rating in a research note on Monday, February 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Arch Therapeutics currently has a consensus rating of Hold and an average price target of $2.17.

Shares of OTCMKTS:ARTH traded down $0.01 during trading on Monday, reaching $0.30. 195,253 shares of the stock were exchanged, compared to its average volume of 383,851. Arch Therapeutics has a 1-year low of $0.25 and a 1-year 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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