Leerink Partners analyst Puneet Souda has maintained their neutral stance on CYRX stock, giving a Hold rating yesterday.
Puneet Souda has given his Hold rating due to a combination of factors surrounding CryoPort’s recent strategic decisions. The company announced the divestiture of its CryoPDP business to DHL, which is expected to streamline operations and improve the balance sheet by reducing debt. This move is seen as a positive step towards addressing financial concerns and enhancing CryoPort’s market position, particularly in the APAC and EMEA regions.
Despite these positive developments, the revised financial guidance for the fiscal year reflects a decrease in expected revenue, which may have influenced the Hold rating. Additionally, while the deal increases exposure to the Cell and Gene Therapy sector and is expected to improve margins, the company’s goal to achieve adjusted EBITDA by 2025 remains unchanged. These factors combined suggest a cautious outlook, justifying the Hold recommendation.
Souda covers the Healthcare sector, focusing on stocks such as Illumina, Natera, and Guardant Health. According to TipRanks, Souda has an average return of -14.4% and a 26.55% success rate on recommended stocks.