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

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

Several other analysts also recently issued reports on the stock. UBS Group upped their price objective on shares of Cryoport from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. B. Riley raised shares of 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. Needham & Company LLC reduced their price target on shares of Cryoport from $18.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Jefferies Financial Group downgraded 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 report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.50.

Cryoport Stock Performance

CYRX stock opened at $7.73 on Friday. The company has a quick ratio of 7.99, a current ratio of 8.38 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $381.94 million, a price-to-earnings ratio of -2.11 and a beta of 1.63. Cryoport has a 12 month low of $5.32 and a 12 month high of $20.10. The firm has a 50 day moving average of $7.73 and a two-hundred day moving average of $9.21.

Cryoport announced that its board has authorized a stock repurchase plan on Tuesday, August 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 49.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Cryoport

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA increased its position in Cryoport by 2.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,035,586 shares of the company’s stock valued at $14,066,000 after acquiring an additional 52,103 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Cryoport by 52.9% in 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 acquiring an additional 511,064 shares in the last quarter. AXA S.A. increased its position in 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 acquiring an additional 639,855 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Cryoport in the 1st quarter valued at about $7,800,000. Finally, Silvercrest Asset Management Group LLC increased its position in Cryoport by 4.5% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 417,031 shares of the company’s stock valued at $7,381,000 after acquiring an additional 18,088 shares in the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

Cryoport Company Profile

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.