Akoya Biosciences price target lowered to $3.50 from $6 at Canaccord

Canaccord lowered the firm’s price target on Akoya Biosciences (AKYA) to $3.50 from $6 and keeps a Buy rating on the shares post the Q3 report. Although the company lowered its annual revenue guidance for the third consecutive quarter, Canaccord remains constructive, saying Akoya appears capable of returning to growth in the near term. The primary causes of the Q3 shortfall were extended sales cycles and limited capital equipment funding, adn the company’s recent sales force restructure and related transition led to some disruption, the analyst tells investors in a research note.