Cryoport (NASDAQ:CYRX) Price Target Raised to $9.00 at UBS Group

Cryoport (NASDAQ:CYRX - Get Free Report) had its price objective raised by research analysts at UBS Group from $7.00 to $9.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's price objective indicates a potential upside of 19.21% from the stock's current price.

CYRX has been the subject of a number of other reports. Jefferies Financial Group lowered Cryoport from a "buy" rating to a "hold" rating and decreased their target price for the company from $20.00 to $8.00 in a report on Wednesday, August 7th. B. Riley upgraded Cryoport from a "neutral" rating to a "buy" rating and decreased their target price for the company from $19.00 to $15.00 in a report on Wednesday, July 31st. Finally, Needham & Company LLC decreased their target price on Cryoport from $18.00 to $11.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Cryoport currently has an average rating of "Hold" and a consensus price target of $12.00.

Cryoport Trading Up 5.9 %

Shares of CYRX traded up $0.42 during midday trading on Friday, hitting $7.55. 263,480 shares of the stock were exchanged, compared to its average volume of 583,739. Cryoport has a 52-week low of $5.32 and a 52-week high of $20.10. The stock has a fifty day simple moving average of $8.20 and a 200 day simple moving average of $10.45. The firm has a market cap of $371.89 million, a P/E ratio of -3.01 and a beta of 1.60. 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 (NASDAQ:CYRX - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($1.62) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $57.65 million. During the same quarter in the prior year, the business earned ($0.42) earnings per share. The company's quarterly revenue was up 1.0% on a year-over-year basis. On average, research analysts anticipate that Cryoport will post -1.63 EPS for the current fiscal year.

Cryoport announced that its Board of Directors has initiated a share buyback program on Tuesday, August 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to purchase up to 49.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Cryoport

In other news, Director Ramkumar Mandalam sold 4,167 shares of Cryoport stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $8.04, for a total transaction of $33,502.68. Following the sale, the director now owns 56,032 shares in the company, valued at approximately $450,497.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 7,167 shares of company stock worth $60,363. Corporate insiders own 10.10% of the company's stock.

Hedge Funds Weigh In On Cryoport

Several institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank boosted its holdings in Cryoport by 73.0% in the 1st quarter. Comerica Bank now owns 3,481 shares of the company's stock valued at $62,000 after purchasing an additional 1,469 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in Cryoport by 294.3% in the 1st quarter. Lazard Asset Management LLC now owns 5,378 shares of the company's stock valued at $95,000 after purchasing an additional 4,014 shares in the last quarter. Quest Partners LLC boosted its holdings in Cryoport by 1,083,000.0% in the 2nd quarter. Quest Partners LLC now owns 10,831 shares of the company's stock valued at $75,000 after purchasing an additional 10,830 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in Cryoport in the 2nd quarter valued at approximately $92,000. Finally, State Board of Administration of Florida Retirement System boosted its holdings in 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 valued at $277,000 after purchasing an additional 3,400 shares in the last quarter. Institutional investors and hedge funds 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.