In a report released on March 4, David Larsen from BTIG maintained a Buy rating on CryoPort (CYRX – Research Report), with a price target of $13.00.
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David Larsen has given his Buy rating due to a combination of factors that indicate CryoPort is on a positive trajectory. The company reported strong fourth-quarter results, with product revenue showing a significant sequential increase and only a slight year-over-year decline, suggesting stabilization in their MVE segment. Additionally, CryoPort’s total revenue exceeded expectations, and there was a notable improvement in adjusted EBITDA, indicating better cost management and operational efficiency.
Moreover, CryoPort’s commercial revenue saw substantial growth, supported by an increase in the number of commercial therapies. The company also anticipates further growth in 2025, with expectations of positive EBITDA and stable gross margins. Despite some macroeconomic challenges, CryoPort appears well-positioned to manage these effectively, with strategies in place to mitigate potential cost increases. Overall, these positive developments and strategic positioning underpin Larsen’s optimistic outlook for CryoPort’s future performance.
In another report released on March 5, Needham also maintained a Buy rating on the stock with a $11.00 price target.