Akoya BioSciences shares are trading lower after the company reported worse-than-expected Q1 financial results and cut its FY24 revenue guidance below estimates. Also, BTIG maintained a Buy rating on the stock but lowered its price target from $9 to $6.
Portfolio Pulse from Benzinga Newsdesk
Akoya BioSciences shares dropped following disappointing Q1 financial results and a reduction in FY24 revenue guidance below expectations. Despite the negative report, BTIG maintained a Buy rating on AKYA but reduced its price target from $9 to $6.
May 14, 2024 | 5:07 pm
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Akoya BioSciences reported disappointing Q1 results and lowered FY24 revenue guidance, leading to a stock price drop. BTIG maintains a Buy rating but cuts the price target.
The negative financial report and reduced future revenue expectations directly impact investor sentiment and stock valuation. The maintained Buy rating by BTIG, despite a lower price target, indicates some level of continued analyst support, but the immediate financial results and guidance cut are likely to have a more significant short-term negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100