Akari Therapeutics (AKTX) Gets a Buy Rating from B.Riley FBR

In a report released today, Mayank Mamtani from B.Riley FBR reiterated a Buy rating on Akari Therapeutics (AKTXResearch Report), with a price target of $7. The company’s shares closed last Monday at $1.85, close to its 52-week low of $1.56.

Mamtani commented:

“We recently hosted an NDR with Akari Therapeutics (AKTX) and came away incrementally bullish on ongoing efforts to advance its lead program, nomacopan, across multiple grievous orphan and large complement-mediated disorders (CMDs) including pediatric hematopoietic stem cell transplant-related thrombotic microangiopathy (HSCT-TMA), bullous pemphigoid (BP), and atopic keratoconjunctivitis (AKC; severe form of dry eye). In parallel, we update our model following recent disclosure of 2Q19 financial results that reflect an incrementally strengthened balance sheet via recent $4.5M raise.”

According to TipRanks.com, Mamtani has currently no stars on a ranking scale of 0-5 stars, with an average return of -5.6% and a 34.3% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Madrigal Pharmaceuticals Inc.

Currently, the analyst consensus on Akari Therapeutics is a Moderate Buy with an average price target of $7.

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Based on Akari Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $4.1 million. In comparison, last year the company had a GAAP net loss of $7.92 million.

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Akari Therapeutics Plc is a clinical-stage biopharmaceutical company, which engages in the development and commercialization of therapeutics to treat orphan autoimmune and inflammatory diseases. Its lead product candidate, Nomacopan, is a second-generation complement inhibitor.