CryoPort (CYRX) shares were up nearly 23% in recent Monday trading after UBS Securities upgraded the stock to buy from neutral and maintained its price target of $10.
UBS expects mid-to-long-term sales growth of around 10% and a path to positive free cash flow as CryoPort expands its cell and gene therapy services. While challenges from its MVE subsidiary and broader biopharma market weakness have weighed on revenue, the firm believes these headwinds are stabilizing, creating an attractive entry point.
UBS highlighted CryoPort's significant exposure to cell and gene therapy, noting its leading position in clinical trial logistics and involvement in commercially approved treatments. The firm also expects operating leverage and tapering capital expenditures to support positive free cash flow by 2027.
Trading volume exceeded 643,000 shares, compared with a daily average of about 373,000.
Price: 6.99, Change: +1.30, Percent Change: +22.85
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