Arch Therapeutics (OTCMKTS:ARTH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, Zacks.com reports. The firm currently has a $0.25 price target on the biotechnology company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 7.76% from the stock’s current price.
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 restated a “buy” rating and set a $2.00 target price on shares of Arch Therapeutics in a research report on Thursday, November 21st. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $1.17.
Shares of OTCMKTS:ARTH traded down $0.01 during trading on Friday, reaching $0.23. 278,910 shares of the company’s stock traded hands, compared to its average volume of 195,732. Arch Therapeutics has a fifty-two week low of $0.12 and a fifty-two week high of $0.44. The company has a 50-day simple moving average of $0.24 and a 200-day simple moving average of $0.24.
About Arch Therapeutics
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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