Akari Therapeutics (AKTX) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Akari Therapeutics (NASDAQ:AKTX) from a strong-buy rating to a hold rating in a research note published 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. “

A number of other analysts have also recently issued reports on AKTX. Canaccord Genuity restated a buy rating and set a $15.00 price objective on shares of Akari Therapeutics in a research report on Friday, September 22nd. William Blair raised Akari Therapeutics from a market perform rating to an outperform rating in a research note on Friday, September 22nd. Finally, ValuEngine raised Akari Therapeutics from a strong sell rating to a sell rating in a research note on Thursday, November 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $7.50.

Akari Therapeutics (AKTX) traded down $0.25 on Tuesday, hitting $3.70. The stock had a trading volume of 292,500 shares, compared to its average volume of 194,920. The company has a market capitalization of $56.76, a PE ratio of -1.38 and a beta of -8.64. Akari Therapeutics has a 1-year low of $3.18 and a 1-year high of $22.20.

Akari Therapeutics (NASDAQ:AKTX) last released its quarterly earnings data on Monday, November 13th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.91. sell-side analysts forecast that Akari Therapeutics will post -1.77 EPS for the current year.

A hedge fund recently raised its stake in Akari Therapeutics stock. VHCP Management II LLC boosted its stake in Akari Therapeutics PLC (NASDAQ:AKTX) by 15.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 426,297 shares of the biopharmaceutical company’s stock after buying an additional 56,807 shares during the quarter. Akari Therapeutics makes up about 0.8% of VHCP Management II LLC’s investment portfolio, making the stock its 13th largest position. VHCP Management II LLC owned 3.62% of Akari Therapeutics worth $1,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 20.95% of the stock is currently owned by hedge funds and other institutional investors.

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About Akari Therapeutics

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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