Akoya Biosciences up after Craig-Hallum starts with 'buy' rating

Akoya Biosciences

21/06/2024 16:43

** Shares of medtech firm Akoya Biosciences  AKYA.O  rise
~8% to $2.41
    ** Brokerage Craig-Hallum starts coverage on stock with
"buy" rating and $7.50 price target 
    ** Says AKYA is well positioned to benefit from widespread
adoption of spatial imaging and phenotyping instruments 
    ** "We believe that Akoya is at the front end of a
significant product adoption cycle with the potential to be a
$500 million revenue company in five years" - Craig-Hallum 
    ** Adds shares are "significantly" undervalued
    ** Out of nine analysts covering the stock, eight rate it
"buy" or higher, one "hold"; their median PT is $6
    ** Stock down ~50% YTD

 (Reporting by Roshan Abraham)
 ((Roshan.Abraham@thomsonreuters.com))