Stephens Reiterates “Overweight” Rating for Akoya Biosciences (NASDAQ:AKYA)

Akoya Biosciences (NASDAQ:AKYA)‘s stock had its “overweight” rating restated by research analysts at Stephens in a research report issued on Tuesday,Benzinga reports. They currently have a $3.50 price objective on the stock. Stephens’ price objective indicates a potential upside of 143.90% from the company’s current price.

Other research analysts have also issued research reports about the stock. Piper Sandler lowered shares of Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 price objective on the stock. in a research note on Wednesday, March 5th. Canaccord Genuity Group cut shares of Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.90.

Akoya Biosciences Trading Down 8.0 %

Shares of NASDAQ AKYA opened at $1.44 on Tuesday. The company’s 50 day simple moving average is $2.32 and its 200 day simple moving average is $2.53. The company has a debt-to-equity ratio of 5.62, a current ratio of 2.75 and a quick ratio of 1.85. Akoya Biosciences has a fifty-two week low of $1.42 and a fifty-two week high of $5.16. The firm has a market capitalization of $71.14 million, a P/E ratio of -1.23 and a beta of 1.32.

Akoya Biosciences (NASDAQ:AKYA) last posted its quarterly earnings results on Monday, March 17th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.02). The company had revenue of $21.34 million during the quarter, compared to the consensus estimate of $21.34 million. Akoya Biosciences had a negative return on equity of 162.99% and a negative net margin of 66.77%. On average, analysts predict that Akoya Biosciences will post -0.96 EPS for the current year.

Institutional Trading of Akoya Biosciences

Large investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC acquired a new position in shares of Akoya Biosciences during the 4th quarter worth about $27,000. SG Americas Securities LLC bought a new stake in Akoya Biosciences in the fourth quarter valued at approximately $28,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Akoya Biosciences during the 4th quarter worth approximately $31,000. Bank of America Corp DE boosted its holdings in shares of Akoya Biosciences by 39.6% during the 4th quarter. Bank of America Corp DE now owns 29,092 shares of the company’s stock worth $67,000 after buying an additional 8,258 shares during the period. Finally, Barclays PLC lifted its holdings in Akoya Biosciences by 320.9% during the 3rd quarter. Barclays PLC now owns 39,472 shares of the company’s stock worth $107,000 after purchasing an additional 30,095 shares during the last quarter. Institutional investors and hedge funds own 79.42% of the company’s stock.

Akoya Biosciences Company Profile

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.