Shares of Akari Therapeutics (NASDAQ: AKTX) received renewed interest from analysts as Ladenburg Thalmann initiated coverage with a buy rating and a target price of $1.00. This report, released on October 8, 2023, highlights the biopharmaceutical company’s potential amidst a competitive market.
The recent analysis from Ladenburg Thalmann comes on the heels of mixed evaluations from other analysts. On the same day, Weiss Ratings reaffirmed a “sell (e+)” rating for Akari, contrasting with the more optimistic view from HC Wainwright, which reiterated a buy rating and set a target price of $1.60 in a report dated September 9, 2023. Currently, three analysts classify Akari’s stock as a buy, while one has issued a sell rating.
According to data from MarketBeat.com, Akari Therapeutics holds an average rating of “Moderate Buy” with a consensus target price of $2.53. This indicates a generally positive outlook for the company, despite the disparity in individual ratings.
Institutional Investors Show Increased Interest
In a significant move, Cresset Asset Management LLC has increased its holdings in Akari Therapeutics by an impressive 4,368.0% during the third quarter of 2023. Following this investment, Cresset now owns 822,468 shares of the company after acquiring an additional 804,060 shares. This investment valued at approximately $831,000 represents 2.52% of Akari’s total stock. Institutional investors collectively own roughly 5.06% of the company’s shares, reflecting growing confidence in Akari’s prospects.
About Akari Therapeutics
Akari Therapeutics plc operates as a clinical-stage biopharmaceutical company dedicated to discovering and developing innovative complement inhibitors aimed at treating inflammatory and immunological diseases. The company focuses on modulating the complement cascade, a vital part of the innate immune system, to provide targeted therapies for patients suffering from rare and severe conditions.
The lead asset in Akari’s pipeline is sutimlimab, a humanized monoclonal antibody specifically designed to inhibit the C1s protein. This product is currently undergoing pivotal clinical studies for the treatment of cold agglutinin disease, a severe blood disorder.
As Akari Therapeutics continues to navigate the complexities of the biopharmaceutical landscape, the recent analyst coverage and institutional investment highlight the potential for growth and innovation within the company. Investors and stakeholders are keenly observing how these developments may influence Akari’s trajectory in the coming months.
