Ladenburg Thalmann & Co. Reiterates a Buy Rating on Arch Therapeutics Inc (ARTH)

By Carrie Williams

Ladenburg Thalmann & Co. analyst Michael Higgins reiterated a Buy rating on Arch Therapeutics Inc (ARTHResearch Report) on August 2 and set a price target of $1.25. The company’s shares closed on Friday at $0.28, close to its 52-week low of $0.26.

Higgins noted:

“We are looking forward to the European agency’s decision, which is expected by this fall. While EU authorities typically render its decision in six months, we believe there is a backlog delaying its decision, driven by recent changes in the governing rules and the impact from Brexit. Arch management has reportedly not heard from the agency and, “…expects the review process to be completed this fall” (10-Q).”

According to TipRanks.com, Higgins ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -14.5% and a 26.7% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Armata Pharmaceuticals Inc, Rhythm Pharmaceuticals Inc, and Achieve Life Sciences Inc.

Arch Therapeutics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $1.25.

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Based on Arch Therapeutics Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $1.29 million. In comparison, last year the company had a GAAP net loss of $2.21 million.

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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.