Akari Therapeutics (NASDAQ:AKTX) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Akari Therapeutics PLC is a biopharmaceutical company. It focused on the development and commercialization of innovative therapeutics to treat orphan autoimmune and inflammatory diseases. The Company’s lead drug consist of Coversin is a recombinant small protein, which acts on complement component-C5, preventing release of C5a and formation of C5b-9. Akari Therapeutics PLC, formerly known as Celsus Therapeutics Plc, is based in London, United Kingdom. “

NASDAQ:AKTX traded down $0.05 during midday trading on Friday, hitting $1.90. 56,649 shares of the company were exchanged, compared to its average volume of 2,970,000. The company has a fifty day simple moving average of $1.89 and a 200 day simple moving average of $2.50. Akari Therapeutics has a fifty-two week low of $1.56 and a fifty-two week high of $9.20. The company has a market capitalization of $29.33 million, a PE ratio of -11.18 and a beta of -2.85.

Akari Therapeutics Company Profile

Akari Therapeutics, Plc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of treatments for a range of rare and orphan autoimmune and inflammatory diseases. Its lead drug candidate is Coversin, a second-generation complement inhibitor that is in Phase II clinical trial for the treatment of autoimmune and inflammatory diseases, including paroxysmal nocturnal hemoglobinuria, guillain barré syndrome, and atypical hemolytic uremic syndrome.

See Also: Strike Price

Get a free copy of the Zacks research report on Akari Therapeutics (AKTX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Akari Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akari Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.