Cryoport (NASDAQ:CYRX) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Cryoport (NASDAQ:CYRX) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $11.00 price target on the stock.

Other analysts have also recently issued research reports about the stock. Guggenheim reissued a “buy” rating and issued a $10.00 price target on shares of Cryoport in a research note on Wednesday. UBS Group raised their target price on Cryoport from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, April 1st. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $15.00 price target on shares of Cryoport in a research note on Tuesday, April 1st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Cryoport presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.67.

Cryoport Stock Performance

NASDAQ:CYRX opened at $5.55 on Wednesday. The company has a market cap of $277.00 million, a P/E ratio of -1.64 and a beta of 1.81. Cryoport has a twelve month low of $4.58 and a twelve month high of $17.41. The company’s 50-day moving average price is $5.99 and its 200-day moving average price is $7.02. The company has a current ratio of 5.70, a quick ratio of 5.32 and a debt-to-equity ratio of 0.48.

Cryoport (NASDAQ:CYRX) last posted its quarterly earnings results on Tuesday, March 4th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.09). The company had revenue of $59.53 million during the quarter, compared to analysts’ expectations of $58.71 million. Cryoport had a negative net margin of 70.08% and a negative return on equity of 13.35%. During the same quarter last year, the company earned ($0.29) earnings per share. On average, sell-side analysts forecast that Cryoport will post -0.99 earnings per share for the current fiscal year.

Insider Transactions at Cryoport

In related news, CEO Jerrell Shelton sold 4,620 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $6.29, for a total transaction of $29,059.80. Following the sale, the chief executive officer now directly owns 765,399 shares of the company’s stock, valued at $4,814,359.71. This represents a 0.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 19,830 shares of company stock worth $118,353 over the last ninety days. Company insiders own 10.10% of the company’s stock.

Institutional Trading of Cryoport

A number of large investors have recently modified their holdings of CYRX. Cadian Capital Management LP grew its stake in Cryoport by 14.1% during the 4th quarter. Cadian Capital Management LP now owns 4,927,027 shares of the company’s stock worth $38,332,000 after purchasing an additional 609,021 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Cryoport by 11.0% in the 4th quarter. Millennium Management LLC now owns 4,139,869 shares of the company’s stock valued at $32,208,000 after buying an additional 409,353 shares during the period. Deutsche Bank AG grew its position in shares of Cryoport by 0.9% during the fourth quarter. Deutsche Bank AG now owns 1,397,121 shares of the company’s stock worth $10,870,000 after buying an additional 12,864 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Cryoport by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,097,369 shares of the company’s stock worth $8,902,000 after buying an additional 38,520 shares during the period. Finally, State Street Corp raised its holdings in Cryoport by 2.8% in the third quarter. State Street Corp now owns 1,003,080 shares of the company’s stock valued at $8,135,000 after acquiring an additional 27,438 shares in the last quarter. Hedge funds and other institutional investors own 92.90% of the company’s stock.

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.