H.C. Wainwright Reiterates Their Buy Rating on Arch Therapeutics Inc (ARTH)

H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Arch Therapeutics Inc (Other OTC: ARTH) today and set a price target of $3. The company’s shares closed on Friday at $0.39.

Selvaraju noted:

“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 3-star analyst with an average return of 1.9% and a 38.5% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, Synergy 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 $3 average price target.

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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 $2.21 million. In comparison, last year the company had a GAAP net loss of $2.74 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.

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