Shares of Akari Therapeutics (NASDAQ:AKTX) received renewed attention as LADENBURG THALM/SH SH initiated coverage with a buy rating and a target price of $1.00. This development was highlighted in a research report published on Monday, signaling a potentially positive outlook for the biopharmaceutical company.
Several other analysts have recently provided insights on Akari Therapeutics. Weiss Ratings reiterated a “sell (e+)” rating on October 8, 2023, while HC Wainwright maintained a “buy” rating, setting a higher price objective of $1.60 on September 9, 2023. Currently, three analysts rate the stock as a Buy, whereas one has assigned a Sell rating. According to data from MarketBeat.com, the overall average rating for the company stands at “Moderate Buy” with a consensus target price of $2.53.
Institutional Investment Increases
In a significant move, Cresset Asset Management LLC increased its stake in Akari Therapeutics by an astonishing 4,368.0% during the third quarter. This was disclosed in their most recent filing with the U.S. Securities and Exchange Commission (SEC). Following this adjustment, Cresset Asset Management now holds 822,468 shares, having acquired an additional 804,060 shares during the reporting period. This investment represents approximately 2.52% of Akari Therapeutics, valued at around $831,000.
Currently, institutional investors collectively own 5.06% of Akari Therapeutics stock, reflecting growing confidence in the company’s potential.
Company Overview and Research Focus
Akari Therapeutics plc is a clinical-stage biopharmaceutical company dedicated to discovering and developing innovative complement inhibitors aimed at treating inflammatory and immunological diseases. The firm focuses on modulating the complement cascade, a crucial part of the innate immune system, with the aim of delivering targeted therapies to patients suffering from rare and severe conditions.
The lead asset in Akari’s pipeline is sutimlimab, a humanized monoclonal antibody that selectively inhibits the C1s protein. This treatment is currently under evaluation in pivotal clinical studies for cold agglutinin disease, a rare blood disorder.
As the company continues to attract analyst attention and institutional investment, its progress in clinical research and development remains a focal point for investors and industry observers alike.
