Akoya Biosciences (NASDAQ:AKYA) Coverage Initiated at BTIG Research

BTIG Research started coverage on shares of Akoya Biosciences (NASDAQ:AKYA – Get Rating) in a research note issued on Wednesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $16.00 price target on the stock. BTIG Research’s price objective points to a potential upside of 51.95% from the company’s current price.

A number of other equities analysts have also weighed in on AKYA. Morgan Stanley decreased their price target on Akoya Biosciences from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday, March 15th. Piper Sandler decreased their price objective on Akoya Biosciences from $18.00 to $14.00 and set a “na” rating for the company in a research report on Sunday, May 15th.

NASDAQ:AKYA opened at $10.53 on Wednesday. The company has a quick ratio of 3.63, a current ratio of 3.98 and a debt-to-equity ratio of 0.31. Akoya Biosciences has a 1-year low of $8.02 and a 1-year high of $21.84. The firm has a market capitalization of $395.82 million, a price-to-earnings ratio of -7.42 and a beta of 1.30. The stock has a fifty day simple moving average of $10.14 and a 200 day simple moving average of $11.27.

Akoya Biosciences (NASDAQ:AKYA – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.07). Akoya Biosciences had a negative net margin of 86.00% and a negative return on equity of 39.95%. The company had revenue of $16.89 million during the quarter, compared to analyst estimates of $14.79 million. During the same quarter last year, the business earned ($2.85) EPS. Equities analysts predict that Akoya Biosciences will post -1.41 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Water Life Science Advisors LP raised its stake in shares of Akoya Biosciences by 22.1% during the 1st quarter. Blue Water Life Science Advisors LP now owns 2,088,668 shares of the company’s stock worth $22,954,000 after purchasing an additional 377,861 shares in the last quarter. State Street Corp raised its stake in shares of Akoya Biosciences by 17.5% during the 1st quarter. State Street Corp now owns 182,291 shares of the company’s stock worth $2,003,000 after purchasing an additional 27,194 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Akoya Biosciences by 12.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 67,401 shares of the company’s stock worth $741,000 after purchasing an additional 7,243 shares in the last quarter. Parkman Healthcare Partners LLC raised its stake in shares of Akoya Biosciences by 20.3% during the 1st quarter. Parkman Healthcare Partners LLC now owns 150,321 shares of the company’s stock worth $1,652,000 after purchasing an additional 25,321 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its stake in shares of Akoya Biosciences by 216.7% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 159,300 shares of the company’s stock worth $1,751,000 after purchasing an additional 109,000 shares in the last quarter. Hedge funds and other institutional investors own 39.90% of the company’s stock.

Akoya Biosciences Company Profile (Get Rating)

Akoya Biosciences, Inc, a life sciences technology company, provides spatial biology solutions focused on transforming discovery and clinical research. It offers single-cell resolution with spatial context that provides a wealth of information to visualize tissue organization and disease pathology on a molecular level to understand disease progression and treatment response.

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