Zacks Investment Research downgraded shares of Arch Therapeutics (OTCMKTS:ARTH) from a buy rating to a hold rating in a report released on Wednesday morning.
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. “
Several other equities research analysts have also recently commented on ARTH. HC Wainwright reissued a buy rating and set a $2.50 target price on shares of Arch Therapeutics in a report on Monday, March 18th. Ifs Securities raised Arch Therapeutics from an outperform rating to a strong-buy rating in a report on Friday, February 1st. Finally, Roth Capital reissued a buy rating on shares of Arch Therapeutics in a report on Tuesday, February 5th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Arch Therapeutics presently has a consensus rating of Buy and an average target price of $1.50.
Arch Therapeutics Company Profile
Arch Therapeutics, Inc, together with its subsidiaries, 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 manages wounds during surgery, trauma, and interventional care. Its primary product candidate is AC5 Devices, a product containing synthetic biocompatible peptides that comprise naturally occurring amino acids to achieve hemostasis in skin wounds and in minimally invasive and open surgical procedures.
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