Arch Therapeutics Inc (NASDAQ:ARTH) Upgraded to “Hold” at Zacks Investment Research

Arch Therapeutics Inc (NASDAQ:ARTH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, July 4th.

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. “

Other equities analysts have also recently issued research reports about the company. ValuEngine upgraded Arch Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 3rd. Roth Capital set a $3.00 target price on Arch Therapeutics and gave the company a “buy” rating in a research note on Thursday, May 25th. Finally, HC Wainwright set a $3.00 target price on Arch Therapeutics and gave the company a “buy” rating in a research note on Monday, June 12th. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $2.31.

Shares of Arch Therapeutics (ARTH) traded down 3.20672% on Tuesday, reaching $0.66255. 369,753 shares of the company were exchanged. The company has a 50-day moving average price of $0.58 and a 200 day moving average price of $0.58. The stock’s market capitalization is $99.89 million. Arch Therapeutics has a 1-year low of $0.41 and a 1-year high of $0.80.

Arch Therapeutics (NASDAQ:ARTH) last released its quarterly earnings results on Tuesday, May 2nd. The biotechnology company reported ($0.01) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.01). On average, analysts forecast that Arch Therapeutics will post ($0.06) EPS for the current fiscal year.

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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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