Akari Therapeutics (AKTX) Downgraded to Strong Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Akari Therapeutics (NASDAQ:AKTX) from a hold rating to a strong sell rating in a research report sent to investors on Thursday, Zacks.com reports.

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 equities analysts have also issued reports on AKTX. B. Riley set a $7.00 target price on shares of Akari Therapeutics and gave the company a buy rating in a research report on Tuesday, March 19th. ValuEngine upgraded shares of Akari Therapeutics from a hold rating to a buy rating in a research report on Thursday, March 14th.

AKTX stock opened at $1.98 on Thursday. Akari Therapeutics has a 1-year low of $1.56 and a 1-year high of $9.20. The firm has a market cap of $33.46 million, a price-to-earnings ratio of -11.65 and a beta of -3.75.

Akari Therapeutics (NASDAQ:AKTX) last released its quarterly earnings results on Tuesday, April 23rd. The biopharmaceutical company reported ($0.03) EPS for the quarter. On average, equities research analysts forecast that Akari Therapeutics will post -2 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hikari Power Ltd grew its position in Akari Therapeutics by 19.2% in the 1st quarter. Hikari Power Ltd now owns 1,430,096 shares of the biopharmaceutical company’s stock valued at $5,120,000 after buying an additional 230,399 shares in the last quarter. Virtu Financial LLC acquired a new stake in Akari Therapeutics in the 1st quarter valued at about $143,000. Finally, Renaissance Technologies LLC acquired a new stake in Akari Therapeutics in the 1st quarter valued at about $68,000. Hedge funds and other institutional investors own 14.90% of the company’s stock.

Akari Therapeutics Company Profile

Akari Therapeutics, Plc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of treatments for a range of rare and orphan autoimmune and inflammatory diseases. Its lead drug candidate is Coversin, a second-generation complement inhibitor that is in Phase II clinical trial for the treatment of autoimmune and inflammatory diseases, including paroxysmal nocturnal hemoglobinuria, guillain barré syndrome, and atypical hemolytic uremic syndrome.

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