H.C. Wainwright Keeps Their Buy Rating on Arch Therapeutics Inc

By Carrie Williams

In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Arch Therapeutics Inc (Other OTC: ARTH), with a price target of $3. The company’s shares closed yesterday at $0.66.

Selvaraju wrote:

“We consider this a significant milestone for the company and a crucial gating item for the potential near-term approval of the product for the first of what may be many uses in the surgical setting. This application could be approved in the U.S. by late 2017 or early 2018, in our view.”

According to TipRanks.com, Selvaraju is ranked 0 out of 5 stars with an average return of -7.9% and a 34.5% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as RegeneRx Biopharmaceuticals Inc, Biospecifics Technologies Corp, and Synergy Pharmaceuticals Inc.

Arch Therapeutics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $3.

The company has a one year high of $0.80 and a one year low of $0.41. Currently, Arch Therapeutics Inc has an average volume of 311.6K.

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Arch Therapeutics, Inc. is a biotechnology company, which engages in developing an innovative, elegant, and superior approach to the rapid cessation of bleeding and control of fluid leakage during surgery and trauma care. Its product candidate surgical hemostatic device is designed to achieve hemostasis in minimally invasive and open surgical procedures.