Cryoport (NASDAQ:CYRX) Given New $15.00 Price Target at Roth Mkm

Cryoport (NASDAQ:CYRX) had its target price lowered by Roth Mkm from $18.00 to $15.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. Jefferies Financial Group cut shares of Cryoport from a “buy” rating to a “hold” rating and cut their target price for the company from $20.00 to $8.00 in a research note on Wednesday, August 7th. B. Riley raised shares of Cryoport from a “neutral” rating to a “buy” rating and cut their target price for the company from $19.00 to $15.00 in a research note on Wednesday, July 31st. UBS Group lifted their price objective on shares of Cryoport from $7.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Needham & Company LLC dropped their price objective on shares of Cryoport from $18.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.50.

Cryoport Trading Down 3.6 %

Shares of NASDAQ CYRX traded down $0.29 during midday trading on Friday, reaching $7.73. The stock had a trading volume of 659,477 shares, compared to its average volume of 361,014. The stock has a 50-day moving average of $7.73 and a 200-day moving average of $9.31. The company has a debt-to-equity ratio of 0.97, a quick ratio of 7.99 and a current ratio of 8.38. Cryoport has a 12-month low of $5.32 and a 12-month high of $20.10.

Cryoport (NASDAQ:CYRX) last posted its earnings results on Tuesday, August 6th. The company reported ($1.62) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($1.25). The company had revenue of $57.60 million for the quarter, compared to analysts’ expectations of $57.65 million. Cryoport had a negative net margin of 76.48% and a negative return on equity of 15.55%. The business’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.42) earnings per share. Sell-side analysts forecast that Cryoport will post -1.68 EPS for the current fiscal year.

Cryoport declared that its Board of Directors has approved a share repurchase program on Tuesday, August 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to repurchase up to 49.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Cryoport

Several institutional investors have recently made changes to their positions in CYRX. BNP Paribas Financial Markets lifted its holdings in shares of Cryoport by 155.9% in the 1st quarter. BNP Paribas Financial Markets now owns 82,653 shares of the company’s stock worth $1,463,000 after acquiring an additional 50,355 shares during the last quarter. Inspire Investing LLC bought a new stake in shares of Cryoport in the 1st quarter worth about $358,000. State Board of Administration of Florida Retirement System lifted its holdings in shares of Cryoport by 27.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 15,638 shares of the company’s stock worth $277,000 after acquiring an additional 3,400 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Cryoport in the 1st quarter worth about $7,800,000. Finally, Lazard Asset Management LLC lifted its holdings in shares of Cryoport by 294.3% in the 1st quarter. Lazard Asset Management LLC now owns 5,378 shares of the company’s stock worth $95,000 after acquiring an additional 4,014 shares during the last quarter. Institutional investors own 92.90% of the company’s stock.

Cryoport Company Profile

Cryoport, Inc provides temperature-controlled supply chain solutions in biopharma/pharma, animal health, and human reproductive medicine markets in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Cryoport Express Shippers; Cryoport ELITE -80°C Gene Therapy Shipper; Cryoport ELITE Cryosphere Shipper; Cryoport consulting services, including physical, thermal, and shipping qualifications of shipping systems and/or packaging to developing custom packaging solutions; and Cryoport bioservices, such as controlled temperature storage, fulfilment, kit production, secondary packaging, labelling of therapeutic products, and GMP raw materials storage services.