In a report released yesterday, David Larsen from BTIG maintained a Buy rating on CryoPort (CYRX – Research Report), with a price target of $13.00.
David Larsen has given his Buy rating due to a combination of factors that highlight CryoPort’s strategic moves and market positioning. The decision to sell CRYOPDP to DHL for approximately $195 million is seen as a strategic alignment that allows CryoPort to focus more on its core strengths in the cell and gene therapy market. This sale is expected to be margin accretive, as CryoPort projects a higher consolidated gross margin post-transaction.
Furthermore, the partnership with DHL is anticipated to enhance CryoPort’s logistics capabilities, especially in regions like APAC and EMEA, where additional support was needed. The company remains committed to the growing cell and gene therapy sector, with plans to support an increasing number of therapies and clinical trials. The robust growth prospects in this market, coupled with CryoPort’s strategic focus and operational efficiencies, underpin Larsen’s positive outlook and Buy rating for the stock.
In another report released today, Roth MKM also reiterated a Buy rating on the stock with a $15.00 price target.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CYRX in relation to earlier this year.