Needham analyst David Saxon maintained a Buy rating on CryoPort (CYRX – Research Report) today and set a price target of $11.00.
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David Saxon’s rating is based on several strategic considerations surrounding CryoPort’s business operations. The decision to report CryoPDP as discontinued operations by the first quarter of 2025 and the anticipated closure of the deal by mid-second quarter of 2025 with minimal tax implications are key factors. This strategic move is expected to streamline CryoPort’s operations and potentially enhance its financial performance.
Additionally, management’s guidance suggests that MVE’s revenue is projected to align with the quarterly revenue figures seen in 2024, with a possibility for further growth. Despite a slight reduction in MVE revenue estimates, the inclusion of pro forma cash from the CryoPDP sale has led to a maintained price target of $11. These elements collectively underpin the Buy rating, reflecting confidence in CryoPort’s future financial trajectory.
According to TipRanks, Saxon is an analyst with an average return of -4.1% and a 31.06% success rate. Saxon covers the Healthcare sector, focusing on stocks such as DENTSPLY SIRONA, Alcon, and RxSight.
In another report released on April 1, Roth MKM also reiterated a Buy rating on the stock with a $15.00 price target.