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

Cryoport (NASDAQ:CYRX) had its price objective raised by analysts at UBS Group from $7.00 to $9.00 in a report released on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s target price suggests a potential upside of 19.21% from the stock’s previous close.

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

Cryoport Stock Performance

CYRX opened at $7.55 on Friday. The company has a market cap of $371.89 million, a price-to-earnings ratio of -3.06 and a beta of 1.60. The firm’s fifty day simple moving average is $8.19 and its two-hundred day simple moving average is $10.38. 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 has a 52-week low of $5.32 and a 52-week high of $20.10.

Cryoport (NASDAQ:CYRX) last announced its quarterly earnings data 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 net margin of 76.48% and a negative return on equity of 15.55%. 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 company posted ($0.42) EPS. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts anticipate that Cryoport will post -1.63 earnings per share for the current fiscal year.

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

Insider Buying and Selling at Cryoport

In related news, Director Ramkumar Mandalam sold 4,167 shares of Cryoport stock in a transaction on Friday, August 2nd. The shares were 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 of the company’s stock, valued at $450,497.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 7,167 shares of company stock valued at $60,363 over the last three months. 10.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Comerica Bank increased its position 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 acquiring an additional 1,469 shares during the period. Quest Partners LLC lifted its holdings in shares of Cryoport by 1,083,000.0% in the second 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 acquired a new position in Cryoport in the 2nd quarter valued at approximately $92,000. Lazard Asset Management LLC boosted its position in Cryoport by 294.3% during the first quarter. Lazard Asset Management LLC now owns 5,378 shares of the company’s stock worth $95,000 after purchasing an additional 4,014 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Cryoport by 9.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,683 shares of the company’s stock worth $122,000 after buying an additional 1,534 shares during the period. 92.90% of the stock is currently owned by institutional investors.

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.