Akari Therapeutics, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Sean Lee CFA from H.C. Wainwright reiterated a Buy rating on the stock and has a $1.60 price target.
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Sean Lee CFA has given his Buy rating due to a combination of factors surrounding Akari Therapeutics’ strategic shift and innovative developments. The company has redirected its focus towards creating a novel antibody-drug conjugate (ADC) platform following its merger with Peak Bio and the appointment of a new CEO. This platform is built around a proprietary PH1 spliceosome modulator payload, which is designed to directly kill tumors and potentially enhance the effectiveness of existing immunotherapies by improving tumor recognition.
Additionally, the first product from this platform, AKTX-101, has shown promising results in preclinical models, particularly in combination with immuno-oncology agents. AKTX-101 targets the TROP2 antigen, which is prevalent in various solid tumors, and has demonstrated the ability to generate immunological memory in mice. Despite the promising potential of Akari’s ADC platform, Sean Lee notes the company’s financial constraints, with limited cash reserves posing a risk until further funding is secured. Nonetheless, the innovative approach and potential best-in-class results underpin the Buy rating.
According to TipRanks, Lee CFA is a 2-star analyst with an average return of 1.1% and a 33.33% success rate. Lee CFA covers the Healthcare sector, focusing on stocks such as Senseonics Holdings, Plus Therapeutics, and Alphatec Holdings.