LADENBURG THALM/SH SH restated their buy rating on shares of Arch Therapeutics (OTCMKTS:ARTH) in a research report report published on Wednesday morning, AnalystRatings.com reports. LADENBURG THALM/SH SH currently has a $1.25 target price on the biotechnology company’s stock.
“We expect the next months to be equally, if not more productive, as we believe European approval is likely by May 28 and we look for regulatory feedback from management on its next candidate, AC5 Surgical Hemostat, being developed for its most valuable indication(s), internal surgical procedures. We believe management is conducting in 2Q’19 pre-IDE meetings with the FDA to design clinical trials that will test this new device in likely several surgical procedures. We anticipate such plans (including the as-of-yet undisclosed, specific surgery types) to be disclosed in coming months, followed by trial initiations ~YE’19.”,” the firm’s analyst commented.
Several other brokerages have also issued reports on ARTH. Ifs Securities upgraded shares of Arch Therapeutics from an outperform rating to a strong-buy rating in a research note on Friday, February 1st. Zacks Investment Research raised shares of Arch Therapeutics from a hold rating to a buy rating and set a $0.50 price target for the company in a research note on Wednesday, February 20th. HC Wainwright reissued a buy rating and issued a $2.50 price target on shares of Arch Therapeutics in a research note on Monday, March 18th. Finally, Roth Capital reissued a buy rating on shares of Arch Therapeutics in a research note on Tuesday, February 5th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $1.42.
Shares of Arch Therapeutics stock traded up $0.01 during mid-day trading on Wednesday, hitting $0.30. 328,331 shares of the stock were exchanged, compared to its average volume of 265,039. Arch Therapeutics has a 12 month low of $0.27 and a 12 month high of $0.69.
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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