Jason McCarthy, an analyst from Maxim Group, reiterated the Buy rating on Akari Therapeutics. The associated price target remains the same with $5.00.
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Jason McCarthy has given his Buy rating due to a combination of factors that highlight Akari Therapeutics’ potential in the oncology biotechnology sector. The company is pioneering a novel approach with its antibody drug conjugate (ADC) program, specifically through its innovative payload, PH1. This spliceosome inhibitor is designed to disrupt protein production in cancer cells, offering a unique mechanism that differs from the traditional toxic payloads used in most ADCs on the market.
The early-stage data for PH1 has been promising, and the company is well-positioned to capitalize on the substantial M&A and licensing activity in the ADC space. Despite the current under-the-radar status of Akari, largely due to its recent merger with Peak Bio and the challenging biotech market environment, McCarthy sees this as an opportunity for growth. The potential for Akari’s ADCs to synergize with checkpoint inhibitors and their favorable toxicity profile further support the Buy rating, as these factors could make Akari an attractive partner for future collaborations.
Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AKTX in relation to earlier this year.