Shares of Akari Therapeutics (NASDAQ:AKTX) are garnering attention following the initiation of coverage by LADENBURG THALM/SH SH, which issued a buy rating along with a target price of $1.00. This report, published on Monday, marks a significant endorsement for the clinical-stage biopharmaceutical company known for its innovative treatments for inflammatory and immunological diseases.
Other analysts have also weighed in on the stock in recent weeks. On October 8, Weiss Ratings reaffirmed a “sell (e+)” rating, reflecting a more cautious view of the company’s market performance. Conversely, earlier in September, HC Wainwright reiterated a “buy” rating and set a higher price objective of $1.60. These varying assessments have led to a mixed outlook for Akari, with three analysts rating the stock as a Buy and one providing a Sell rating. According to data from MarketBeat.com, the average rating currently stands at “Moderate Buy,” with a consensus target price of $2.53.
Institutional Investment Increases
Recent filings reveal that institutional interest in Akari Therapeutics is on the rise. Cresset Asset Management LLC significantly increased its stake in the company by 4,368.0% during the third quarter, acquiring an additional 804,060 shares. This brings their total holdings to 822,468 shares, valued at approximately $831,000 at the end of the reporting period. Institutional investors now collectively own 5.06% of Akari’s stock, indicating a growing confidence in the company’s potential.
Akari Therapeutics is dedicated to developing novel complement inhibitors aimed at treating rare and severe disorders. The company’s flagship asset, sutimlimab, is a humanized monoclonal antibody that selectively targets the C1s protein. Currently, it is undergoing pivotal clinical studies for cold agglutinin disease, a severe condition that can lead to significant health complications.
As Akari Therapeutics continues to advance its research and development efforts, the market will be closely watching how these analyst ratings and institutional investments shape the company’s trajectory in the biopharmaceutical landscape. For investors seeking detailed insights, MarketBeat offers a daily newsletter summarizing the latest news and ratings for Akari and related firms.
