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.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CCEL: