Akoya Biosciences Inc Down 12.04% To $5.26 After Earnings Beat

Tuesday, March 5, 2024 - Akoya Biosciences Inc (AKYA) reported upside earnings and revenues today.

Wall Street earnings per share (EPS) projections for Akoya Biosciences Inc were at a loss of $0.27 per share. The company beat those estimates with an EPS loss of $0.22 per share. The loss of $0.22 per share (which represents a -19% EPS surprise) led to the company's profits rising 56% compared to last year when the firm reported an EPS loss of $0.50 per share. The increase in Akoya Biosciences Inc's annual growth rate represents how the business is performing well amid recent economic conditions.

Analyst projections for Akoya Biosciences Inc revenue came in at a consensus of $25.9 million. Fourth-Quarter revenues surpassed estimates for $26.5 million by $597 thousand (2%). The company achieved 25% growth year-over-year compared to the firm's revenue of $21.2 million from the year-ago quarter. The higher earnings growth relative to revenue signals Akoya Biosciences Inc has improved its profit margin.

The stock is down 12.04% to $5.26 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Akoya Biosciences Inc has performed a little below average during the past few months. Before the report, Akoya Biosciences Inc received a Long-Term Technical Rank by InvestorsObserver of 48, putting it in the bottom half of stocks. The firm set a 52-week low on October 30, 2023 at $3.04 and set a 52-week high on March 6, 2023 at $12.03.

Akoya Biosciences Inc is an innovative life sciences technology company. It is delivering spatial biology solutions focused on transforming discovery and clinical research. The company offers the most comprehensive, end-to-end solutions for high-parameter tissue analysis from discovery through clinical and translational research, enabling the development of more precise therapies for immuno-oncology and other drug development applications.