IFS Securities Downgrades Arch Therapeutics (ARTH) to Outperform

IFS Securities downgraded Arch Therapeutics (OTC: ARTH) from Strong Buy to Outperform with a price target of $1.85.

Analyst David Bouchey comments "We are optimistic that the company could stick to our current timeline expectations. We note that before the 510(k) submission, management had a track record of successfully meeting its development timelines. Most importantly, we believe the AC5 could transform the treatment of wounds and surgeries and become the gold standard in the worldwide market for hemostatic agents and sealants. It is this fundamental belief that is the basis for the assumptions used in arriving at our investment recommendation and valuation."

For an analyst ratings summary and ratings history on Arch Therapeutics click here. For more ratings news on Arch Therapeutics click here.

Shares of Arch Therapeutics closed at $0.31 yesterday.

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