Akari Therapeutics (NASDAQ:AKTX) Stock Rating Upgraded by Maxim Group

Akari Therapeutics (NASDAQ:AKTX) was upgraded by equities researchers at Maxim Group from a “hold” rating to a “buy” rating in a report released on Monday, MarketBeat Ratings reports. The brokerage currently has a $30.00 price objective on the biopharmaceutical company’s stock. Maxim Group’s price target would suggest a potential upside of 222.58% from the stock’s previous close.

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

Akari Therapeutics Stock Performance

Shares of AKTX opened at $9.30 on Monday. Akari Therapeutics has a 52 week low of $3.02 and a 52 week high of $49.60. The stock’s 50-day moving average price is $11.91 and its 200-day moving average price is $9.43.

Institutional Trading of Akari Therapeutics

An institutional investor recently bought a new position in Akari Therapeutics stock. Armistice Capital LLC acquired a new stake in Akari Therapeutics PLC (NASDAQ:AKTX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,723,966 shares of the biopharmaceutical company’s stock, valued at approximately $787,000. Armistice Capital LLC owned approximately 5.95% of Akari Therapeutics at the end of the most recent reporting period. Institutional investors and hedge funds 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.