Chardan Capital Markets Starts Akari Therapeutics (AKTX) at Sell

Chardan Capital Markets initiates coverage on Akari Therapeutics (NASDAQ: AKTX) with a Sell rating and a price target of $5.00.

Analyst Madhu Kumar commented, "We initiate coverage on Akari Therapeutics PLC (AKTX) with a Sell rating (PT $5), on our view that an inferior dosing schedule for phase II asset, coversin, and significant competition pose risks ahead of 2H16 clinical results. Akari is a clinical-stage biotech company using an engineered complement factor 5 (C5) protein inhibitor called coversin to treat various complement C5-mediated diseases (CMDs), such as paroxysmal nocturnal hemoglobinuria (PNH) and atypical hemolytic-uremic syndrome (aHUS). Akari has phase II data in PNH expected in 2H16.

In our view, Akari faces two key challenges in the CMD therapy space:

1. Coversin’s dosing route and schedule are clinically unfavorable compared to competitors.

2. Competition has superior efficacy in PNH.

For an analyst ratings summary and ratings history on Akari Therapeutics click here. For more ratings news on Akari Therapeutics click here.

Shares of Akari Therapeutics closed at $12.03 yesterday.

You May Also Be Interested In

• Truist Securities Starts Vishay Intertechnology (VSH) at Buy
• Chardan Assumes Rocket Pharmaceuticals (RCKT) at Buy
• Chardan Starts Vyome Holdings (HIND) at Buy