Akari Therapeutics (AKTX) PT Lowered to $8.00

Akari Therapeutics (NASDAQ:AKTX) had its price target cut by equities researchers at Canaccord Genuity from $15.00 to $8.00 in a report released on Thursday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity’s target price would indicate a potential upside of 339.56% from the stock’s previous close.

Several other analysts have also recently weighed in on AKTX. B. Riley began coverage on shares of Akari Therapeutics in a research note on Thursday, February 8th. They issued a “neutral” rating and a $3.00 price objective on the stock. Zacks Investment Research cut shares of Akari Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Finally, ValuEngine raised shares of 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, three have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.63.

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Shares of Akari Therapeutics stock opened at $1.82 on Thursday. Akari Therapeutics has a twelve month low of $1.70 and a twelve month high of $22.20.

Akari Therapeutics (NASDAQ:AKTX) last issued its quarterly earnings data on Wednesday, March 21st. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.66) by $0.59. sell-side analysts expect that Akari Therapeutics will post -2 EPS for the current year.

Institutional investors have recently modified their holdings of the stock. Endurant Capital Management LP bought a new stake in shares of Akari Therapeutics in the fourth quarter worth $871,000. Millennium Management LLC grew its stake in shares of Akari Therapeutics by 125.0% in the fourth quarter. Millennium Management LLC now owns 260,020 shares of the biopharmaceutical company’s stock worth $1,126,000 after purchasing an additional 144,477 shares during the last quarter. Finally, AWM Investment Company Inc. bought a new stake in shares of Akari Therapeutics in the fourth quarter worth $2,962,000. 32.94% of the stock is currently owned by institutional investors.

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Akari Therapeutics Company Profile

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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