Akari Therapeutics (AKTX) Initiated with a Buy at B.Riley FBR

By Jason Carr

Akari Therapeutics (AKTXResearch Report) received a Buy rating and a $7.00 price target from B.Riley FBR analyst Mayank Mamtani today. The company’s shares closed last Monday at $1.92, close to its 52-week low of $1.56.

According to TipRanks.com, Mamtani is a 5-star analyst with an average return of 26.6% and a 46.8% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Allena Pharmaceuticals, and NGM Biopharmaceuticals.

Akari Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $7.00.

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Based on Akari Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $2.75 million. In comparison, last year the company had a GAAP net loss of $3.6 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.