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

Cryoport (NASDAQ:CYRX) had its price target cut by research analysts at Roth Mkm from $18.00 to $15.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Roth Mkm’s price target would suggest a potential upside of 101.34% from the company’s current price.

Several other research analysts also recently commented on the company. UBS Group lifted their price objective on Cryoport from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Needham & Company LLC decreased their price objective on Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Jefferies Financial Group downgraded Cryoport from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $20.00 to $8.00 in a report on Wednesday, August 7th. Finally, B. Riley upgraded Cryoport from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $19.00 to $15.00 in a report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.50.

Cryoport Price Performance

CYRX stock traded down $0.57 during mid-day trading on Friday, hitting $7.45. 234,116 shares of the stock were exchanged, compared to its average volume of 567,103. The company has a debt-to-equity ratio of 0.97, a current ratio of 8.38 and a quick ratio of 7.99. The business has a fifty day moving average price of $7.76 and a 200 day moving average price 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 capitalization of $368.10 million, a price-to-earnings ratio of -2.03 and a beta of 1.63.

Cryoport (NASDAQ:CYRX) last released 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 company had revenue of $57.60 million during the quarter, compared to analysts’ expectations of $57.65 million. Cryoport had a negative return on equity of 15.55% and a negative net margin of 76.48%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.42) EPS. On average, sell-side analysts anticipate that Cryoport will post -1.65 EPS for the current year.

Cryoport declared that its Board of Directors has initiated a share repurchase plan on Tuesday, August 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 49.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. AXA S.A. increased its holdings in Cryoport by 274.2% during the 2nd quarter. AXA S.A. now owns 873,217 shares of the company’s stock valued at $6,034,000 after purchasing an additional 639,855 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Cryoport by 155.9% during 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 period. Federated Hermes Inc. purchased a new position in shares of Cryoport during the 2nd quarter worth approximately $774,000. Assenagon Asset Management S.A. grew its holdings in shares of Cryoport by 52.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,477,693 shares of the company’s stock worth $10,211,000 after acquiring an additional 511,064 shares during the period. Finally, Inspire Investing LLC purchased a new position in shares of Cryoport during the 1st quarter worth approximately $358,000. 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.