Akari Therapeutics (NASDAQ:AKTX) Rating Increased to Buy at Maxim Group

Akari Therapeutics (NASDAQ:AKTX) was upgraded by investment analysts at Maxim Group from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm currently has a $30.00 target price on the biopharmaceutical company’s stock. Maxim Group’s target price suggests a potential upside of 172.48% from the company’s current price.

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

Akari Therapeutics Stock Performance

Shares of AKTX opened at $11.01 on Monday. The stock has a 50 day moving average price of $11.68 and a 200 day moving average price of $9.44. Akari Therapeutics has a one year low of $3.02 and a one year high of $49.60.

Institutional Trading of Akari Therapeutics

A hedge fund recently bought a new stake in Akari Therapeutics stock. Armistice Capital LLC purchased a new stake in shares of Akari Therapeutics PLC (NASDAQ:AKTX) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,723,966 shares of the biopharmaceutical company’s stock, valued at approximately $787,000. Armistice Capital LLC owned 5.95% of Akari Therapeutics as of its most recent filing with the SEC. 5.06% of the stock is currently owned by institutional investors and hedge funds.

About Akari Therapeutics

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.