uploads///seagull _

Why Akari Therapeutics Soared Yesterday


Mar. 14 2019, Updated 8:10 a.m. ET

Stock price movement

Yesterday, Akari Therapeutics (AKTX) closed at $5.90, 224.16% higher than its previous closing price, 278.21% higher than its 52-week low of $1.56, and 100.00% higher than its 52-week high of $2.95. The company’s market capitalization is $92.22 million. Since it is lower than $300 million, Akari Therapeutics is a microcap stock and poses higher risk to retail investors as compared to large-cap stocks or the broader market.

Article continues below advertisement

The dramatic rise in Akari Therapeutics’ share price followed the issue of the company’s press release announcing favorable outcomes from a Type B pre-IND (Pre-investigational new drug application) meeting with the FDA. This meeting involved discussions about the design of the company’s pivotal clinical study to evaluate investigational C5 complement inhibitor, Coversin, in the pediatric HSCT-TMA (hematopoietic stem cell transplant-related thrombotic microangiopathy) indication.


According to the company’s investor presentation, in addition to severe TMA, Coversin is also being studied in three other orphan indications such as BP (Bullous pemphigoid), AKC (atopic keratoconjunctivitis), and PNH (paroxysmal nocturnal hemoglobinuria). The company is anticipating initial readouts from trials evaluating Coversin in the BP and AKC indications in the first quarter of 2019 and staged readouts for Coversin in the PNH indication in 2019.

Based on its closing price on March 13, Akari Therapeutics has reported returns of 218.94% in the last week, 210.53% in the last month, and 233.33% in the last quarter. The company has reported returns of 187.80% in the last half year, 154.31% in the last year, and 275.80% YTD.

Analysts’ recommendations and target price

The 12-month consensus recommendation for Akari Therapeutics is a “strong buy.” Of the two analysts covering Akari Therapeutics, one analyst is recommending a “strong buy,” while the other one is recommending a “buy.” The 12-month target price is $5.5, 6.78% lower than its closing price on March 13. The highest target price estimate for the company is $8 and the lowest is $3.


More From Market Realist

    • CONNECT with Market Realist
    • Link to Facebook
    • Link to Twitter
    • Link to Instagram
    • Link to Email Subscribe
    Market Realist Logo

    © Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.