Saturday, 18 May 2024


Piper Sandler cuts Akoya Biosciences shares target, revises EPS forecasts By

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On Wednesday, Piper Sandler adjusted its stance on Akoya Biosciences Inc (NASDAQ: AKYA) shares, maintaining an Overweight rating but reducing the price target to $6.00 from the previous $8.00. The revision comes as the firm recalibrates its expectations for the company’s future revenue and earnings per share (EPS).

The firm’s new estimates for Akoya’s 2024 revenue and EPS stand at $102 million and -$1.08, respectively, a change from the prior forecast of $115 million and -$0.88. These figures contrast with the consensus estimates, which predict a 2024 revenue of $116 million and an EPS of -$0.89.

Looking further ahead, Piper Sandler also adjusted its 2025 expectations for Akoya, with revenue now projected at $125 million and EPS at -$0.60, compared to the earlier forecast of $135 million in revenue and -$0.50 EPS. This is in comparison to a consensus estimate of $140 million in revenue and -$0.52 EPS for the same year.

The firm’s outlook for 2026 has also been revised, with revenue now anticipated to be $147 million and EPS at -$0.28. This is a reduction from the previous projection of $157 million in revenue and -$0.17 EPS. The consensus for 2026 stands at $164 million in revenue and -$0.12 EPS.

The updated price target of $6 is based on approximately 2.5 times the expected 2025 enterprise value to revenue, which aligns with the median of Akoya’s peers. This calculation takes into account the company’s cash position of $61 million, debt of $85 million, and a total of 49 million shares outstanding.

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InvestingPro Insights

As Piper Sandler revises its position on Akoya Biosciences Inc (NASDAQ: AKYA), recent data from InvestingPro can provide additional context for investors. The company’s market cap stands at approximately $143.22 million, and with a negative P/E ratio of -2.86, it reflects the company’s current lack of profitability. The revenue growth over the last twelve months as of Q1 2024 is at 17.89%, showing some positive momentum, although it is important to note that quarterly revenue growth has declined by 14.29% in Q1 2024.

According to InvestingPro Tips, Akoya is currently in oversold territory based on the RSI, and analysts have revised their earnings downwards for the upcoming period, which could be a cause for concern. However, it’s worth noting that the company’s liquid assets do exceed its short-term obligations, providing some financial…

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