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 $0.50.
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 is a 1-star analyst with an average return of -1.3% and a 38.4% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
Currently, the analyst consensus on Arch Therapeutics Inc is a Moderate Buy with an average price target of $3.
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Based on Arch Therapeutics Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $1.56 million. In comparison, last year the company had a GAAP net loss of $1.87 million.
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Arch Therapeutics, Inc. is a development stage biotechnology company, which engages in the development of novel approach to stop bleeding, control leaking, and manage wounds during surgery, trauma, and interventional care. Its products candidates include AC5 Devices.
