Zacks Investment Research Lowers Akari Therapeutics (AKTX) to Hold
Akari Therapeutics (NASDAQ:AKTX) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Akari Therapeutics PLC is a biopharmaceutical company. It focused on the development and commercialization of innovative therapeutics to treat orphan autoimmune and inflammatory diseases. The Company’s lead drug consist of Coversin is a recombinant small protein, which acts on complement component-C5, preventing release of C5a and formation of C5b-9. Akari Therapeutics PLC, formerly known as Celsus Therapeutics Plc, is based in London, United Kingdom. “
A number of other analysts have also weighed in on AKTX. William Blair upgraded Akari Therapeutics from a “market perform” rating to an “outperform” rating in a research note on Friday, September 22nd. Canaccord Genuity restated a “buy” rating and issued a $15.00 target price on shares of Akari Therapeutics in a research note on Friday, September 22nd. Finally, ValuEngine upgraded Akari Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $7.50.
Akari Therapeutics (AKTX) traded up $0.07 during trading on Tuesday, reaching $3.77. The company’s stock had a trading volume of 118,700 shares, compared to its average volume of 187,991. Akari Therapeutics has a 1 year low of $3.18 and a 1 year high of $22.20. The firm has a market capitalization of $55.54, a price-to-earnings ratio of -1.41 and a beta of -8.64.
Akari Therapeutics (NASDAQ:AKTX) last announced its earnings results on Monday, November 13th. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.00) by $0.91. sell-side analysts forecast that Akari Therapeutics will post -2 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Akari Therapeutics stock. Hikari Power Ltd grew its holdings in Akari Therapeutics PLC (NASDAQ:AKTX) by 152.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 151,334 shares of the biopharmaceutical company’s stock after buying an additional 91,322 shares during the quarter. Hikari Power Ltd owned approximately 1.28% of Akari Therapeutics worth $929,000 at the end of the most recent reporting period. Institutional investors own 20.95% of the company’s stock.
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About Akari Therapeutics
Akari Therapeutics, Plc, formerly Celsus Therapeutics Plc, is a clinical-stage biopharmaceutical company. It is focused on the development and commercialization of treatments for a range of rare and orphan autoimmune and inflammatory diseases caused by dysregulation of complement component 5 (C5), including paroxysmal nocturnal hemoglobinuria, Guillain Barre syndrome and atypical Hemolytic Uremic Syndrome.
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