Akoya Biosciences, Inc. (NASDAQ:AKYA) Receives $6.56 Average Price Target from Brokerages

by · The Cerbat Gem

Shares of Akoya Biosciences, Inc. (NASDAQ:AKYA – Get Free Report) have been given an average rating of “Moderate Buy” by the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $6.56.

A number of research firms have recently issued reports on AKYA. JPMorgan Chase & Co. lowered shares of Akoya Biosciences from an “overweight” rating to a “neutral” rating in a research report on Tuesday, August 6th. Craig Hallum reduced their price target on shares of Akoya Biosciences from $7.50 to $7.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. BTIG Research lowered shares of Akoya Biosciences from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 6th. Morgan Stanley downgraded Akoya Biosciences from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $4.00 to $3.00 in a report on Tuesday, August 6th. Finally, Piper Sandler dropped their price objective on Akoya Biosciences from $6.00 to $4.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th.

Check Out Our Latest Research Report on Akoya Biosciences

Hedge Funds Weigh In On Akoya Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AKYA. Silvercrest Asset Management Group LLC acquired a new position in Akoya Biosciences during the first quarter valued at approximately $2,724,000. Vanguard Group Inc. grew its holdings in Akoya Biosciences by 3.3% during the first quarter. Vanguard Group Inc. now owns 1,454,288 shares of the company’s stock valued at $6,821,000 after purchasing an additional 46,131 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Akoya Biosciences by 16.2% during the second quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock valued at $158,000 after purchasing an additional 9,429 shares during the last quarter. Finally, Regal Investment Advisors LLC grew its holdings in Akoya Biosciences by 64.3% during the second quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock valued at $44,000 after purchasing an additional 7,340 shares during the last quarter. Institutional investors and hedge funds own 79.42% of the company’s stock.

Akoya Biosciences Price Performance

AKYA stock opened at $2.87 on Wednesday. The company has a current ratio of 2.73, a quick ratio of 1.98 and a debt-to-equity ratio of 3.43. Akoya Biosciences has a one year low of $1.88 and a one year high of $6.31. The firm has a market capitalization of $141.74 million, a PE ratio of -1.95 and a beta of 1.36. The firm has a 50-day moving average of $2.70 and a two-hundred day moving average of $2.77.

Akoya Biosciences (NASDAQ:AKYA – Get Free Report) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.27) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.27). The business had revenue of $23.16 million during the quarter, compared to analyst estimates of $23.61 million. Akoya Biosciences had a negative net margin of 64.74% and a negative return on equity of 126.38%. During the same period in the prior year, the firm earned ($0.51) earnings per share. On average, analysts forecast that Akoya Biosciences will post -0.98 earnings per share for the current year.

Akoya Biosciences Company Profile

(Get Free Report

Akoya Biosciences, Inc, a life sciences technology company, provides spatial biology solutions focused on transforming discovery and clinical research in North America, the Asia Pacific, Europe, the Middle East, and Africa. The company offers PhenoCycler instrument, a compact bench-top fluidics system that integrates with a companion microscope to automate image acquisition; and PhenoImager platform that enables researchers to visualize, analyze, quantify, and phenotype cells in situ, in fresh frozen or FFPE tissue sections, and tissue microarrays utilizing an automated and high-throughput workflow.

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