Roth Mkm Lowers Cryoport (NASDAQ:CYRX) Price Target to $15.00

Cryoport (NASDAQ:CYRX) had its target price decreased by research analysts at Roth Mkm from $18.00 to $15.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Roth Mkm’s price objective suggests a potential upside of 101.34% from the stock’s current price.

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

Cryoport Stock Performance

NASDAQ:CYRX traded down $0.57 during trading hours on Friday, reaching $7.45. The stock had a trading volume of 234,116 shares, compared to its average volume of 567,103. The company has a debt-to-equity ratio of 0.97, a quick ratio of 7.99 and a current ratio of 8.38. The stock has a 50 day simple moving average of $7.76 and a 200 day simple moving average of $9.37. Cryoport has a 12-month low of $5.32 and a 12-month high of $20.10. The stock has a market cap of $368.10 million, a P/E ratio of -2.03 and a beta of 1.63.

Cryoport (NASDAQ:CYRX) last released its earnings results on Tuesday, August 6th. The company reported ($1.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($1.25). Cryoport had a negative return on equity of 15.55% and a negative net margin of 76.48%. The firm had revenue of $57.60 million during the quarter, compared to analysts’ expectations of $57.65 million. During the same period in the prior year, the business earned ($0.42) earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, research analysts forecast that Cryoport will post -1.65 EPS for the current fiscal year.

Cryoport announced that its board has initiated a stock buyback plan on Tuesday, August 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to buy up to 49.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Cryoport

Several large investors have recently added to or reduced their stakes in CYRX. BNP Paribas Financial Markets boosted its stake in Cryoport by 155.9% during the first quarter. BNP Paribas Financial Markets now owns 82,653 shares of the company’s stock valued at $1,463,000 after buying an additional 50,355 shares during the period. Inspire Investing LLC bought a new stake in Cryoport during the first quarter valued at $358,000. State Board of Administration of Florida Retirement System boosted its stake in Cryoport by 27.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 15,638 shares of the company’s stock valued at $277,000 after buying an additional 3,400 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Cryoport during the first quarter valued at $7,800,000. Finally, Lazard Asset Management LLC boosted its stake in Cryoport by 294.3% during the first quarter. Lazard Asset Management LLC now owns 5,378 shares of the company’s stock valued at $95,000 after buying an additional 4,014 shares during the period. 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.