Analyst Brendan Smith of TD Cowen maintained a Hold rating on Cytek Biosciences, retaining the price target of $4.00.
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Brendan Smith’s rating is based on a combination of factors affecting Cytek Biosciences. The company is facing several challenges, including a contraction or stagnation in the flow cytometry market, which is reflected in the narrowed revenue guidance for FY25. Despite being a leader in the market and showing strength in reagents and services, Cytek is dealing with headwinds such as NIH budget constraints, tariffs, and biopharma funding issues, which are impacting revenues and margins.
Additionally, while there is growth in the US market driven by pharma and biotech, other regions like EMEA and APAC are experiencing declines due to various uncertainties. The company is making strategic moves, such as leveraging its installed base and launching new products like the Cytek Aurora Evo system, which could help offset some challenges. However, the path to growth remains uncertain, and improvements are not expected until beyond FY26, leading to the Hold rating.
In another report released on July 26, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $4.00 price target.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CTKB in relation to earlier this year.