Cryoport price target raised to $9 from $7 at UBS

UBS raised the firm’s price target on Cryoport (CYRX) to $9 from $7 and keeps a Neutral rating on the shares. While the firm is optimistic about the long-term growth prospects of the company’s services business, UBS believes MVE sales are likely to pressure near-term forecasts, the analyst tells investors in a research note. The firm says its recent site visit highlighted inherent synergies between CryoPort’s acquisitions and increased its conviction in CryoPort’s ability to capitalize on momentum in cell and gene therapy, but the firm continues to expect near-term pressure on product sales and sponsor investment.