Shares of **Akari Therapeutics** (NASDAQ:AKTX) received renewed attention as **LADENBURG THALM/SH SH** initiated coverage with a positive outlook. In a research report published on October 8, 2023, the brokerage assigned a “buy” rating and set a target price of **$1.00** for the biopharmaceutical company. This move comes amid a backdrop of mixed analyst opinions regarding the stock’s performance.
Other financial institutions have weighed in on Akari’s prospects in recent weeks. Notably, **Weiss Ratings** reaffirmed a “sell (e+)” rating on October 8, while **HC Wainwright** reiterated a “buy” rating with a higher price objective of **$1.60** on September 9. Currently, three analysts have issued a Buy rating, while one has opted for Sell. According to data from **MarketBeat.com**, Akari Therapeutics holds an average rating of “Moderate Buy” with a consensus target price of **$2.53**.
Institutional Investment Increases
In a notable development, **Cresset Asset Management LLC** significantly expanded its stake in Akari Therapeutics during the third quarter. The firm boosted its holdings by an impressive **4,368.0%**, acquiring an additional **804,060 shares**, which brought its total to **822,468** shares. As of the latest reporting period, Cresset’s stake represents **2.52%** of Akari’s total shares, valued at approximately **$831,000**. Overall, institutional investors now hold about **5.06%** of the biopharmaceutical company’s stock.
Company Overview and Research Focus
**Akari Therapeutics** operates as a clinical-stage biopharmaceutical firm dedicated to developing novel complement inhibitors aimed at treating inflammatory and immunological diseases. The company focuses on modulating the complement cascade, a crucial element of the innate immune system, to create targeted therapies for patients with rare and severe conditions.
The flagship asset in Akari’s pipeline is **sutimlimab**, a humanized monoclonal antibody designed to inhibit the **C1s** protein. This treatment is currently undergoing pivotal clinical studies targeting cold agglutinin disease, a serious autoimmune disorder.
With the landscape of analyst ratings shifting and institutional interest rising, Akari Therapeutics is positioning itself for potential growth within the biopharmaceutical sector. Investors and stakeholders will be watching closely as the company continues to advance its research and development efforts.
