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

Cryoport (NASDAQ:CYRX - Free Report) had its price objective reduced by Roth Mkm from $18.00 to $15.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

CYRX has been the topic of several other reports. 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 report on Friday, October 18th. B. Riley upgraded Cryoport from a "neutral" rating to a "buy" rating and lowered their price target for the company from $19.00 to $15.00 in a report on Wednesday, July 31st. Jefferies Financial Group downgraded Cryoport from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $20.00 to $8.00 in a research note on Wednesday, August 7th. Finally, Needham & Company LLC lowered their target price on Cryoport from $18.00 to $11.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Cryoport has a consensus rating of "Moderate Buy" and an average target price of $12.50.

Cryoport Trading Down 3.6 %

Shares of NASDAQ CYRX traded down $0.29 during mid-day trading on Friday, hitting $7.73. 659,377 shares of the company traded hands, compared to its average volume of 569,058. The business has a 50 day moving average of $7.76 and a two-hundred day moving average of $9.37. The stock has a market capitalization of $381.94 million, a price-to-earnings ratio of -2.10 and a beta of 1.63. Cryoport has a 1 year low of $5.32 and a 1 year high of $20.10. The company has a quick ratio of 7.99, a current ratio of 8.38 and a debt-to-equity ratio of 0.97.

Cryoport (NASDAQ:CYRX - Get Free Report) last announced its 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 during the quarter, compared to analyst estimates of $57.65 million. During the same quarter in the previous 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, sell-side analysts anticipate that Cryoport will post -1.65 earnings per share for the current fiscal year.

Cryoport declared that its Board of Directors has approved a share repurchase plan on Tuesday, August 6th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 49.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. AXA S.A. grew its stake in shares of Cryoport by 274.2% in the 2nd quarter. AXA S.A. now owns 873,217 shares of the company's stock valued at $6,034,000 after buying an additional 639,855 shares in the last quarter. BNP Paribas Financial Markets increased its stake 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 purchasing an additional 50,355 shares during the last quarter. Federated Hermes Inc. bought a new position in shares of Cryoport during the 2nd quarter valued at $774,000. Assenagon Asset Management S.A. raised 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 valued at $10,211,000 after purchasing an additional 511,064 shares in the last quarter. Finally, Inspire Investing LLC bought a new stake in Cryoport in the first quarter worth $358,000. 92.90% of the stock is owned by institutional investors and hedge funds.

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.