Akoya Biosciences (NASDAQ:AKYA) Announces Quarterly Earnings Results

Akoya Biosciences (NASDAQ:AKYA) released its earnings results on Monday. The company reported ($0.27) EPS for the quarter, meeting the consensus estimate of ($0.27), Yahoo Finance reports. The company had revenue of $23.16 million for the quarter, compared to analyst estimates of $23.61 million. Akoya Biosciences had a negative net margin of 72.68% and a negative return on equity of 111.80%. During the same quarter last year, the firm earned ($0.51) EPS. Akoya Biosciences updated its FY 2024 guidance to EPS.

Akoya Biosciences Trading Down 6.5 %

AKYA stock opened at $2.01 on Wednesday. The company has a current ratio of 3.07, a quick ratio of 2.38 and a debt-to-equity ratio of 2.33. Akoya Biosciences has a 12-month low of $1.88 and a 12-month high of $6.70. The stock has a market cap of $99.27 million, a price-to-earnings ratio of -1.37 and a beta of 1.34. The business’s 50-day moving average is $2.26 and its 200 day moving average is $3.74.

Analyst Ratings Changes

Several research firms have recently issued reports on AKYA. BTIG Research cut Akoya Biosciences from a “buy” rating to a “neutral” rating in a research note on Tuesday. JPMorgan Chase & Co. cut Akoya Biosciences from an “overweight” rating to a “neutral” rating in a research note on Tuesday. Canaccord Genuity Group cut their target price on shares of Akoya Biosciences from $10.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, May 14th. Morgan Stanley cut shares of Akoya Biosciences from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $4.00 to $3.00 in a report on Tuesday. Finally, Craig Hallum decreased their target price on shares of Akoya Biosciences from $7.50 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $7.06.

About Akoya Biosciences

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.