Stephen Initiates This Spatial Biology Player Citing Strong Competitive Position

  • Stephens started coverage on Akoya Biosciences Inc AKYA with an Overweight rating and price target of $16.
  • The analyst views Akoya as a leader in the rapidly advancing $14 billion spatial biology market. 
  • Relative to other players, the company has an established foothold in the spatial market with the largest installation base of around 800 instruments worldwide, the analyst writes. 
  • With upcoming competition, Stephens believes the value proposition of Akoya’s platforms and ability to provide end-to-end solutions will drive outsized market share gains as spatial phenotyping becomes the standard for tissue sample analysis. 
  • Additionally, through its partnerships, Akoya is further validating its platforms’ capabilities and generating the required evidence to access the $7 billion clinical market opportunity.
  • In the most recent quarter, the company generated sales of $17.9 million, up 37% Y/Y, and raised FY22 sales guidance to $71-74 million from $70-73 million.
  • Price Action: AKYA shares are up 1.14% at $12.82 on the last check Thursday.
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