Chardan Capital Reiterates “Neutral” Rating for Akari Therapeutics PLC (AKTX)
Akari Therapeutics PLC (NASDAQ:AKTX)‘s stock had its “neutral” rating restated by equities researchers at Chardan Capital in a research note issued on Friday. They currently have a $2.50 target price on the biopharmaceutical company’s stock, down from their previous target price of $6.00. Chardan Capital’s price objective points to a potential downside of 27.49% from the stock’s current price.
A number of other brokerages have also weighed in on AKTX. William Blair lowered shares of Akari Therapeutics PLC from an “outperform” rating to a “market perform” rating in a research note on Friday, May 12th. Zacks Investment Research lowered shares of Akari Therapeutics PLC from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 23rd. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $15.00 target price (down previously from $33.00) on shares of Akari Therapeutics PLC in a research note on Monday, June 26th.
Shares of Akari Therapeutics PLC (NASDAQ AKTX) traded down 4.7597% during mid-day trading on Friday, hitting $3.4477. 21,749 shares of the company traded hands. The stock’s market capitalization is $40.60 million. The firm’s 50 day moving average price is $4.54 and its 200-day moving average price is $7.74. Akari Therapeutics PLC has a 1-year low of $3.37 and a 1-year high of $22.20.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hikari Power Ltd acquired a new position in shares of Akari Therapeutics PLC during the second quarter worth about $277,000. Baker BROS. Advisors LP acquired a new position in shares of Akari Therapeutics PLC during the third quarter worth about $4,229,000. Finally, NEA Management Company LLC acquired a new position in shares of Akari Therapeutics PLC during the second quarter worth about $6,100,000. 28.75% of the stock is owned by 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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