CryoPort (CYRX – Research Report), the Industrials sector company, was revisited by a Wall Street analyst today. Analyst David Saxon from Needham reiterated a Buy rating on the stock and has a $11.00 price target.
David Saxon has given his Buy rating due to a combination of factors including CryoPort’s recent agreement to sell CryoPDP to DHL for $195 million in upfront cash. This transaction not only provides CryoPort with significant immediate financial resources but also establishes a strategic partnership with DHL, granting CryoPort access to DHL’s extensive Supply Chain network.
The partnership is expected to enhance CryoPort’s growth potential and improve its margin profiles by expanding its reach in the EMEA and APAC regions. The anticipated proceeds from the sale, expected to close around the second or third quarter of 2025, further strengthen the company’s financial position, reinforcing the Buy rating.
According to TipRanks, Saxon is an analyst with an average return of -2.2% and a 32.62% success rate. Saxon covers the Healthcare sector, focusing on stocks such as DENTSPLY SIRONA, Globus Medical, and Alcon.
In another report released on March 28, Guggenheim also maintained a Buy rating on the stock with a $10.00 price target.