Arch Therapeutics Inc (ARTH) Gets a Buy Rating from Ladenburg

By Carrie Williams

In a report released today, Michael Higgins from Ladenburg reiterated a Buy rating on Arch Therapeutics Inc (ARTHResearch Report), with a price target of $1.25. The company’s shares closed yesterday at $0.28, close to its 52-week low of $0.27.

Higgins wrote:

“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.”

According to TipRanks.com, Higgins is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -5.0% and a 32.2% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Rhythm Pharmaceuticals Inc, Melinta Therapeutics Inc, and Eiger Biopharmaceuticals.

Arch Therapeutics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $1.88.

See today’s analyst top recommended stocks >>

The company has a one-year high of $0.69 and a one-year low of $0.27. Currently, Arch Therapeutics Inc has an average volume of 285.9K.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Arch Therapeutics, Inc. is a development stage biotechnology company, which engages in the development and provision of hemostasis and sealant technology platform. Its product candidates include AC5 Devices, which designed to achieve hemostasis during surgical, wound, and interventional care.