Canaccord Genuity Reiterates “Buy” Rating for Akari Therapeutics PLC (AKTX)
Akari Therapeutics PLC (NASDAQ:AKTX)‘s stock had its “buy” rating reaffirmed by stock analysts at Canaccord Genuity in a research report issued on Friday. They presently have a $15.00 target price on the biopharmaceutical company’s stock. Canaccord Genuity’s target price would indicate a potential upside of 83.37% from the company’s current price.
The analysts wrote, “Date and time of first dissemination: September 21, 2017, 23:12 ET Date and time of production: September 21, 2017, 20:41 ET Target Price / Valuation Methodology: Impax Laboratories – IPXL Our $19 price target is derived from a blend of DCF (7.7% WACC, +1% terminal growth) and a 9.2x forward EV/EBITDA on our 2018 estimates. IPXL shares currently trade around 8x our 2018 EV/EBITDA compared to a group average of around 9.2x. We think a group average EV/EBITDA valuation is warranted because of potential P&L leverage growing profitability faster than revenue which warrants a premium, a premium warranted for the company’s well-respected leadership offset by a discount to the group for relatively low expected top-line growth and a low-duration FTF/FTM based generics pipeline.””
AKTX has been the topic of several other research reports. Chardan Capital reissued a “neutral” rating on shares of Akari Therapeutics PLC in a report on Sunday, September 17th. William Blair raised Akari Therapeutics PLC from a “market perform” rating to an “outperform” rating in a report on Friday. Zacks Investment Research cut Akari Therapeutics PLC from a “hold” rating to a “sell” rating in a report on Friday, June 30th. Finally, ValuEngine raised Akari Therapeutics PLC from a “strong sell” rating to a “sell” rating in a report on Monday, September 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $8.00.
Shares of Akari Therapeutics PLC (NASDAQ:AKTX) opened at 8.18 on Friday. Akari Therapeutics PLC has a one year low of $3.18 and a one year high of $22.20. The firm’s market cap is $96.33 million. The firm’s 50-day moving average price is $4.17 and its 200-day moving average price is $7.23.
An institutional investor recently raised its position in Akari Therapeutics PLC stock. VHCP Management II LLC boosted its holdings in Akari Therapeutics PLC (NASDAQ:AKTX) by 15.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 426,297 shares of the biopharmaceutical company’s stock after buying an additional 56,807 shares during the quarter. Akari Therapeutics PLC accounts for about 0.8% of VHCP Management II LLC’s investment portfolio, making the stock its 13th largest position. VHCP Management II LLC owned approximately 3.62% of Akari Therapeutics PLC worth $1,965,000 as of its most recent filing with the SEC. 26.85% of the stock is owned by hedge funds and other institutional investors.
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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