LADENBURG THALM/SH SH Initiates Coverage on Akari Therapeutics (NASDAQ:AKTX)

Stock analysts at LADENBURG THALM/SH SH initiated coverage on shares of Akari Therapeutics (NASDAQ:AKTX) in a report released on Monday,Benzinga reports. The firm set a “buy” rating and a $1.00 price target on the biopharmaceutical company’s stock. LADENBURG THALM/SH SH’s target price indicates a potential upside of 244.83% from the stock’s current price.

A number of other analysts also recently weighed in on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Akari Therapeutics in a research report on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and set a $1.60 price objective on shares of Akari Therapeutics in a research report on Tuesday, September 9th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2.53.

Akari Therapeutics Stock Performance

Shares of AKTX opened at $0.29 on Monday. The company’s fifty day simple moving average is $0.45 and its 200 day simple moving average is $0.79. Akari Therapeutics has a 1-year low of $0.22 and a 1-year high of $1.73.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Akari Therapeutics stock. Cresset Asset Management LLC grew its holdings in shares of Akari Therapeutics PLC (NASDAQ:AKTX) by 4,368.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 822,468 shares of the biopharmaceutical company’s stock after acquiring an additional 804,060 shares during the quarter. Cresset Asset Management LLC owned 2.52% of Akari Therapeutics worth $831,000 at the end of the most recent quarter. 5.06% of the stock is owned by hedge funds and other institutional investors.

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.