Cryo-Cell price target lowered to $8.50 from $9 at Maxim

Maxim lowered the firm’s price target on Cryo-Cell (CCEL) to $8.50 from $9 and keeps a Buy rating on the shares. The company’s Q4 adjusted EBITDA miss was likely due to higher litigation expenses, though the firm still has a positive view on Cryo-Cell’s core business of processing and storing stem cells due to high margins, the analyst tells investors in a research note. Maxim adds that it is cutting its estimates to reflect higher expenses related to higher litigation costs and Duke royalty expenses being accrued.