Zacks Investment Research Lowers Akari Therapeutics PLC (AKTX) to Sell
Akari Therapeutics PLC (NASDAQ:AKTX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
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 topic of several other reports. Canaccord Genuity reiterated a “buy” rating and set a $15.00 price target (down from $33.00) on shares of Akari Therapeutics PLC in a report on Monday, June 26th. ValuEngine upgraded shares of Akari Therapeutics PLC from a “strong sell” rating to a “sell” rating in a report on Monday, September 11th. William Blair upgraded shares of Akari Therapeutics PLC from a “market perform” rating to an “outperform” rating in a report on Friday, September 22nd. Finally, Chardan Capital reiterated a “neutral” rating and set a $2.50 price target (down from $6.00) on shares of Akari Therapeutics PLC in a report on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. Akari Therapeutics PLC currently has an average rating of “Hold” and an average target price of $8.00.
Shares of Akari Therapeutics PLC (NASDAQ:AKTX) traded down 1.23% on Tuesday, reaching $6.40. 86,319 shares of the company were exchanged. The company has a 50-day moving average price of $5.63 and a 200 day moving average price of $7.24. Akari Therapeutics PLC has a 1-year low of $3.18 and a 1-year high of $22.20. The stock’s market capitalization is $75.37 million.
A hedge fund recently raised its stake in Akari Therapeutics PLC stock. VHCP Management II LLC lifted its holdings in Akari Therapeutics PLC (NASDAQ:AKTX) by 15.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 426,297 shares of the biopharmaceutical company’s stock after purchasing an additional 56,807 shares during the period. Akari Therapeutics PLC comprises 0.8% of VHCP Management II LLC’s holdings, making the stock its 13th biggest position. VHCP Management II LLC owned 3.62% of Akari Therapeutics PLC worth $1,965,000 as of its most recent SEC filing. 26.85% of the stock is owned by institutional investors and hedge funds.
About Akari Therapeutics PLC
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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