Akoya Biosciences, Inc. (NASDAQ:AKYA) Just Released Its First-Quarter Results And Analysts Are Updating Their Estimates

It's been a sad week for Akoya Biosciences, Inc. (NASDAQ:AKYA), who've watched their investment drop 10% to US$9.69 in the week since the company reported its quarterly result. Akoya Biosciences beat revenue forecasts by a solid 13%, hitting US$17m, but it also saw a corresponding increase in statutory losses, which hit US$0.44, some -14% greater than the analysts expected. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.

See our latest analysis for Akoya Biosciences

After the latest results, the four analysts covering Akoya Biosciences are now predicting revenues of US$71.2m in 2022. If met, this would reflect a notable 19% improvement in sales compared to the last 12 months. Losses are expected to increase substantially, hitting US$1.55 per share. Yet prior to the latest earnings, the analysts had been forecasting revenues of US$69.9m and losses of US$1.37 per share in 2022. While this year's revenue estimates held steady, there was also a considerable increase in loss per share expectations, suggesting the consensus has a bit of a mixed view on the stock.

The consensus price target held steady at US$20.25, seemingly implying that the higher forecast losses are not expected to have a long term impact on the company's valuation. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. There are some variant perceptions on Akoya Biosciences, with the most bullish analyst valuing it at US$25.00 and the most bearish at US$18.00 per share. These price targets show that analysts do have some differing views on the business, but the estimates do not vary enough to suggest to us that some are betting on wild success or utter failure.

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. We would highlight that Akoya Biosciences' revenue growth is expected to slow, with the forecast 27% annualised growth rate until the end of 2022 being well below the historical 37% growth over the last year. Juxtapose this against the other companies in the industry with analyst coverage, which are forecast to grow their revenues (in aggregate) 8.0% per year. Even after the forecast slowdown in growth, it seems obvious that Akoya Biosciences is also expected to grow faster than the wider industry.

The Bottom Line

The most important thing to take away is that the analysts increased their loss per share estimates for next year. Fortunately, they also reconfirmed their revenue numbers, suggesting sales are tracking in line with expectations - and our data suggests that revenues are expected to grow faster than the wider industry. The consensus price target held steady at US$20.25, with the latest estimates not enough to have an impact on their price targets.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have forecasts for Akoya Biosciences going out to 2024, and you can see them free on our platform here.

It is also worth noting that we have found 3 warning signs for Akoya Biosciences that you need to take into consideration.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.