Akari Therapeutics PLC (AKTX) Upgraded to Strong-Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Akari Therapeutics PLC (NASDAQ:AKTX) from a hold rating to a strong-buy rating in a research report report published on Tuesday morning. Zacks Investment Research currently has $4.00 target price on the biopharmaceutical company’s stock.
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 brokerages have also recently issued reports on AKTX. William Blair cut shares of Akari Therapeutics PLC from an outperform rating to a market perform rating in a report on Friday, May 12th. Chardan Capital upgraded shares of Akari Therapeutics PLC from a sell rating to a neutral rating and lowered their price target for the company from $6.50 to $6.00 in a research report on Wednesday, May 31st. Finally, Canaccord Genuity reiterated a buy rating and issued a $15.00 price target (down from $33.00) on shares of Akari Therapeutics PLC in a research report on Monday, June 26th.
Shares of Akari Therapeutics PLC (AKTX) opened at 3.73 on Tuesday. Akari Therapeutics PLC has a 52-week low of $3.18 and a 52-week high of $22.20. The firm’s market capitalization is $43.92 million. The stock’s 50 day moving average price is $4.23 and its 200-day moving average price is $7.48.
An institutional investor recently raised its position in Akari Therapeutics PLC stock. VHCP Management II LLC raised its stake in shares of Akari Therapeutics PLC (NASDAQ:AKTX) by 15.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 426,297 shares of the biopharmaceutical company’s stock after buying an additional 56,807 shares during the period. Akari Therapeutics PLC makes up approximately 0.8% of VHCP Management II LLC’s investment portfolio, making the stock its 13th largest position. VHCP Management II LLC owned 3.62% of Akari Therapeutics PLC worth $1,965,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 26.85% of the company’s stock.
Akari Therapeutics PLC Company Profile
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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