Maxim Group Upgrades Akari Therapeutics (NASDAQ:AKTX) to Buy

Akari Therapeutics (NASDAQ:AKTX) was upgraded by equities research analysts at Maxim Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The firm presently has a $30.00 price target on the biopharmaceutical company’s stock. Maxim Group’s price objective indicates a potential upside of 172.48% from the company’s previous close.

AKTX has been the topic of a number of other reports. HC Wainwright raised their target price on Akari Therapeutics to $27.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st. Wall Street Zen upgraded Akari Therapeutics to a “sell” rating in a research report on Saturday, June 27th. Finally, Weiss Ratings upgraded Akari Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 6th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $32.33.

Akari Therapeutics Stock Performance

AKTX stock opened at $11.01 on Monday. Akari Therapeutics has a one year low of $3.02 and a one year high of $49.60. The firm’s fifty day moving average is $11.68 and its 200 day moving average is $9.44.

Institutional Inflows and Outflows

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

Akari Therapeutics Company Profile

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.