Akari Therapeutics PLC (AKTX) Rating Lowered to Hold at Zacks Investment Research
Akari Therapeutics PLC (NASDAQ:AKTX) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday.
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. “
AKTX has been the subject of a number of other reports. Chardan Capital raised shares of Akari Therapeutics PLC from a “sell” rating to a “neutral” rating and reduced their price objective for the company from $6.50 to $6.00 in a research note on Wednesday, May 31st. ValuEngine raised shares of Akari Therapeutics PLC from a “strong sell” rating to a “sell” rating in a research report on Monday, September 11th. William Blair reissued an “outperform” rating on shares of Akari Therapeutics PLC in a research report on Tuesday, July 4th. Finally, Canaccord Genuity reissued 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Akari Therapeutics PLC currently has a consensus rating of “Hold” and a consensus price target of $7.17.
Shares of Akari Therapeutics PLC (NASDAQ AKTX) traded up 4.44% during midday trading on Monday, hitting $5.65. 67,573 shares of the stock were exchanged. The stock’s 50-day moving average price is $4.11 and its 200 day moving average price is $7.23. The stock’s market cap is $66.53 million. Akari Therapeutics PLC has a one year low of $3.18 and a one year high of $22.20.
An institutional investor recently raised its position in Akari Therapeutics PLC stock. VHCP Management II LLC lifted its stake in Akari Therapeutics PLC (NASDAQ:AKTX) by 15.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 426,297 shares of the biopharmaceutical company’s stock after purchasing an additional 56,807 shares during the quarter. Akari Therapeutics PLC accounts for 0.8% of VHCP Management II LLC’s portfolio, making the stock its 13th largest position. VHCP Management II LLC owned about 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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