Akoya Biosciences price target lowered to $4 from $8 at Morgan Stanley

Morgan Stanley analyst Tejas Savant lowered the firm’s price target on Akoya Biosciences to $4 from $8 and keeps an Overweight rating on the shares. Elongated sales cycles, clinical trial milestone pushouts, and disruption from the COE reagent manufacturing transition drove a “significant” miss in Q1, the analyst tells investors. A 2024 guidance cut for the beat plus an additional $2M with updated expectations pointing to a second half weighted recovery mean “patience will be required to unlock upside,” the analyst added.