In a report released yesterday, Tejas Savant from Morgan Stanley maintained a Hold rating on CryoPort (CYRX – Research Report), with a price target of $8.00.
Tejas Savant has given his Hold rating due to a combination of factors impacting CryoPort’s current and future performance. The company’s fourth-quarter results showed a slight outperformance, with revenue reaching $59.5 million, driven by growth in Life Science Services. However, this was partially offset by a decline in Life Science Products revenue, indicating some instability in order patterns despite signs of stabilization.
Additionally, while there was a notable improvement in gross margins and a reduction in operating expenses, broader uncertainties in the pharmaceutical sector, along with changes at the NIH and FDA, contribute to a cautious outlook. The sustainability of the observed stability in MVE orders remains uncertain, and the company’s guidance for 2025 reflects a conservative approach. These elements, coupled with the need for consistent execution, justify the Hold rating as the market navigates these uncertainties.
In another report released on March 5, Jefferies also maintained a Hold rating on the stock with a $6.50 price target.
CYRX’s price has also changed moderately for the past six months – from $8.120 to $6.170, which is a -24.01% drop .
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