Morgan Stanley analyst Tejas Savant initiated coverage with a Hold rating on CryoPort (CYRX – Research Report) today and set a price target of $16.00. The company’s shares closed yesterday at $13.02.
Savant covers the Healthcare sector, focusing on stocks such as Catalent, Charles River Labs, and Thermo Fisher. According to TipRanks, Savant has an average return of -8.0% and a 38.79% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for CryoPort with a $18.50 average price target, representing a 42.09% upside. In a report released on August 11, UBS also maintained a Hold rating on the stock with a $15.00 price target.
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Based on CryoPort’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $57.02 million and a GAAP net loss of $18.36 million. In comparison, last year the company earned a revenue of $64.15 million and had a GAAP net loss of $9.18 million
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CryoPort, Inc. engages in the provision of logistics solutions to the life science industry. It also provides logistics solutions for biologic materials such as immunotherapies, stem cells, CAR-T cells, and reproductive cells for clients worldwide, including points-of-care, clinical research organizations central laboratories, biopharmaceuticals, contract manufacturing, health centers, and university researchers. It offers personalized medicine, immunotherapies, cellular therapies, CAR T-cell therapies, stem cell therapies, cell lines, vaccines, diagnostic materials, semen, eggs, embryos, cord blood, bio-pharmaceuticals, infectious substances, and other commodities that require continuous exposure to certain ranges of precision-controlled temperatures. The company was founded on May 25, 1990 and is headquartered in Irvine, CA.
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