Zacks Investment Research Lowers Arch Therapeutics (ARTH) to Hold

Arch Therapeutics (OTCMKTS:ARTH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

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 analysts have also issued reports on ARTH. HC Wainwright set a $3.00 target price on Arch Therapeutics and gave the stock a “buy” rating in a research note on Monday, October 8th. LADENBURG THALM/SH SH began coverage on Arch Therapeutics in a research report on Wednesday, September 12th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $1.75.

ARTH opened at $0.39 on Monday. Arch Therapeutics has a 12-month low of $0.25 and a 12-month high of $0.80. The stock has a market cap of $61.53 million, a P/E ratio of -7.76 and a beta of 0.70.

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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