H.C. Wainwright Sticks to Its Buy Rating for Arch Therapeutics Inc (ARTH)

By Austin Angelo

H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Arch Therapeutics Inc (ARTHResearch Report) today and set a price target of $2.50. The company’s shares closed on Friday at $0.39.

Selvaraju said:

“Valuation methodology, risks and uncertainties. We utilize a risk- adjusted net present value (rNPV) driven by a discounted cash flow (DCF)-based analysis to value Arch Therapeutics shares.”

According to TipRanks.com, Selvaraju has 0 stars on 0-5 star ranking scale with an average return of -3.6% and a 38.7% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Arch Therapeutics Inc with a $1.75 average price target.

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Based on Arch Therapeutics Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $2.6 million. In comparison, last year the company had a net profit of $389.2K.

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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.