Akari Therapeutics (NASDAQ:AKTX) Downgraded by Maxim Group to Hold

Akari Therapeutics (NASDAQ:AKTX) was downgraded by research analysts at Maxim Group from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday,Finviz reports.

AKTX has been the topic of a number of other research reports. LADENBURG THALM/SH SH started coverage on Akari Therapeutics in a research report on Monday, January 5th. They set a “buy” rating and a $40.00 price target on the stock. HC Wainwright boosted their price target on Akari Therapeutics to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, April 1st. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Akari Therapeutics in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Akari Therapeutics presently has a consensus rating of “Hold” and an average target price of $89.00.

Akari Therapeutics Price Performance

Shares of NASDAQ AKTX opened at $3.80 on Wednesday. The business’s 50 day moving average price is $8.25 and its two-hundred day moving average price is $16.97. Akari Therapeutics has a twelve month low of $3.25 and a twelve month high of $63.20.

Akari Therapeutics (NASDAQ:AKTX) last announced its quarterly earnings results on Monday, March 30th. The biopharmaceutical company reported ($2.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($2.65).

Institutional Investors Weigh In On Akari Therapeutics

A hedge fund recently bought a new stake in Akari Therapeutics stock. Armistice Capital LLC purchased a new stake in Akari Therapeutics PLC (NASDAQ:AKTX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,723,966 shares of the biopharmaceutical company’s stock, valued at approximately $787,000. Armistice Capital LLC owned 5.95% of Akari Therapeutics at the end of the most recent quarter. Institutional investors own 5.06% of the company’s stock.

About Akari Therapeutics

Akari Therapeutics plc is a clinical-stage biopharmaceutical company focused on the discovery and development of novel complement inhibitors for the treatment of inflammatory and immunological diseases. The company’s research centers on modulation of the complement cascade, a key component of the innate immune system, with the goal of delivering targeted therapies to patients suffering from rare and severe disorders.

Akari’s lead pipeline asset is sutimlimab, a humanized monoclonal antibody that selectively inhibits the C1s protein and is being evaluated in pivotal clinical studies for cold agglutinin disease.