BofA Securities opened coverage on Akoustis Technologies (NASDAQ:AKTS) with a Buy rating and set a price target of $34.00, which stands well above the share price near $21.98. The company’s market capitalization is approximately $1.15 billion.
In its research note, analyst Alec Stranahan highlighted several factors that underpin BofA's constructive stance toward the clinical-stage radiopharmaceutical company, which is developing cancer therapies. The bank emphasized Akoustis' tumor-targeting approach using engineered miniproteins paired with a potent radioisotope, and singled out biologically derisked targets such as Nectin-4 and B7-H3. BofA estimated large addressable populations for each asset - in excess of 200,000 patients per target - as a material component of its upside case.
Third-party data referenced in the note indicates the company is not yet profitable, reporting $5.56 million in revenue over the most recent twelve-month period. Despite the limited revenue run rate, BofA highlighted external validation from pharmaceutical partners and investors, naming Eli Lilly among the companies that have invested or partnered with Akoustis. The research note also described what it views as an experienced leadership team and sufficient cash resources to continue progressing the pipeline.
Liquidity metrics cited from InvestingPro support the view of a healthy cash position: a current ratio of 9.27, implying liquid assets materially exceed short-term obligations. Based on its modeling, BofA projects aggregate peak sales across Akoustis’ pipeline could exceed $8 billion, contingent on regulatory approvals - a conditional but substantial revenue opportunity if the company’s assets reach the market.
The bank also noted a sequence of potential near-term value-creating catalysts it expects over the next 12 months. At the same time, InvestingPro analysis flagged valuation considerations, indicating the stock may trade above its Fair Value and that technical momentum measures such as the relative strength index (RSI) point to overbought conditions.
Other sell-side firms have also begun coverage. TD Cowen initiated with a Buy rating and pointed to the commercial potential of the miniprotein technology. JPMorgan likewise opened coverage with an Overweight rating and a $30.00 price target, viewing the company as a promising platform for radiopharmaceutical therapies that may gain traction in oncology treatment.
Activity around the company coincided with its public offering: Aktis Oncology, listed under the ticker NASDAQ:AKTS, completed an initial public offering in which it sold 17.65 million shares, with final pricing at the top of the marketed range. That transaction and the subsequent analyst attention reflect heightened investor interest in Akoustis' platform and strategy.
Investors weighing the opportunity face a mixed picture: a high-upside commercial scenario presented by BofA assuming regulatory success and broad patient addressable markets, contrasted with current unprofitable operations, modest recent revenue and signals that the stock may be trading ahead of fundamental value measures. Market participants will likely monitor upcoming clinical and corporate milestones and any further partnership developments as they assess the path to value realization.