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

Cryoport (NASDAQ:CYRX) had its target price trimmed 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.

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

Cryoport Trading Down 3.6 %

Shares of NASDAQ:CYRX traded down $0.29 during midday trading on Friday, hitting $7.73. 659,477 shares of the stock traded hands, compared to its average volume of 361,014. The business’s 50 day moving average is $7.73 and its two-hundred day moving average is $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 one year low of $5.32 and a one year high of $20.10.

Cryoport (NASDAQ:CYRX) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($1.62) EPS for the quarter, missing the consensus estimate of ($0.37) by ($1.25). The firm had revenue of $57.60 million for the quarter, compared to the consensus estimate 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 last year, the company posted ($0.42) earnings per share. On average, research analysts predict that Cryoport will post -1.68 earnings per share for the current year.

Cryoport announced that its Board of Directors has authorized a share buyback program on Tuesday, August 6th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 49.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Cryoport

Hedge funds and other institutional investors have recently bought and sold shares of the business. Comerica Bank grew its holdings in Cryoport by 73.0% in the first quarter. Comerica Bank now owns 3,481 shares of the company’s stock worth $62,000 after purchasing an additional 1,469 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Cryoport by 294.3% in the first quarter. Lazard Asset Management LLC now owns 5,378 shares of the company’s stock worth $95,000 after buying an additional 4,014 shares in the last quarter. Quest Partners LLC lifted its stake in shares of Cryoport by 1,083,000.0% in the second quarter. Quest Partners LLC now owns 10,831 shares of the company’s stock worth $75,000 after buying an additional 10,830 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Cryoport in the third quarter worth approximately $105,000. Finally, Hsbc Holdings PLC bought a new position in shares of Cryoport in the second quarter worth approximately $92,000. Hedge funds and other institutional investors own 92.90% of the company’s stock.

About Cryoport

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.