BTIG analyst David Larsen has maintained their bullish stance on CYRX stock, giving a Buy rating today.
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David Larsen’s rating is based on several positive indicators for CryoPort. The company reported strong third-quarter results, with revenue surpassing expectations and showing significant year-over-year growth in both Life Sciences Services and Products. Despite a slight miss in adjusted EBITDA, management remains optimistic about reaching EBITDA break-even in the near future.
The demand for CryoPort’s products and services is recovering, with a notable increase in commercial revenue and clinical trials supported. The company is benefiting from a resurgence in demand for cryogenic storage solutions, driven by the growth in regenerative therapies. Additionally, CryoPort’s logistics and services revenue continues to grow, and the company anticipates further improvements in EBITDA margins as revenue increases. Overall, these factors contribute to a positive outlook for CryoPort, justifying the Buy rating.
In another report released today, Needham also reiterated a Buy rating on the stock with a $12.00 price target.