Arch Therapeutics (OTCMKTS:ARTH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm currently has a $0.50 price target on the biotechnology company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 21.95% from the stock’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. “
Separately, HC Wainwright set a $3.00 price objective on Arch Therapeutics and gave the stock a “buy” rating in a research report on Monday. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. Arch Therapeutics presently has a consensus rating of “Buy” and an average target price of $1.75.
Shares of ARTH stock remained flat at $$0.41 during trading hours on Thursday. The stock had a trading volume of 88,453 shares, compared to its average volume of 151,798. Arch Therapeutics has a 1-year low of $0.25 and a 1-year high of $0.89.
About Arch Therapeutics
Arch Therapeutics, Inc, operates as a biotechnology company in the United States. The company develops products based on its technology to stop bleeding and control leaking, as well as provides other advantages during surgery, trauma, and interventional care. Its primary product candidate is AC5 Devices, a synthetic biocompatible peptides that comprises naturally occurring amino acids to achieve hemostasis in minimally invasive and open surgical procedures.
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