Arch Therapeutics Inc (NASDAQ:ARTH) Downgraded by Zacks Investment Research to “Sell”
Zacks Investment Research lowered shares of Arch Therapeutics Inc (NASDAQ:ARTH) from a hold rating to a sell rating in a research report sent to investors on Tuesday 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. “
Other analysts have also issued research reports about the stock. Roth Capital set a $3.00 target price on shares of Arch Therapeutics and gave the stock a buy rating in a report on Thursday, May 25th. HC Wainwright set a $3.00 target price on shares of Arch Therapeutics and gave the stock a buy rating in a report on Monday, June 12th. Finally, ValuEngine raised shares of Arch Therapeutics from a sell rating to a hold rating in a report on Saturday, June 3rd. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. Arch Therapeutics presently has an average rating of Hold and a consensus 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 firm has a 50 day moving average price of $0.58 and a 200-day moving average price of $0.58. Arch Therapeutics has a 12-month low of $0.41 and a 12-month high of $0.80. The stock’s market capitalization is $97.41 million.
Arch Therapeutics (NASDAQ:ARTH) last announced its quarterly earnings results on Tuesday, May 2nd. The biotechnology company reported ($0.01) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.01). On average, analysts predict 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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