Cryoport price target lowered to $20 from $28 at BTIG

BTIG lowered the firm’s price target on Cryoport to $20 from $28 and keeps a Buy rating on the shares. The company’s Q3 results were “solid” amid “stabilizing” MVE demand, and while China continues to be the key revenue headwind, the management expressed that it was optimistic that economic conditions in China have reached a trough and will start to improve, the analyst tells investors in a research note. As more commercial products launch in the coming years, Cryoport’s top-line growth is expected to lift, the firm added.