Cryoport’s (CYRX) Buy Rating Reiterated at Needham & Company LLC

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

Other equities research analysts have also issued reports about the stock. Guggenheim began coverage on shares of Cryoport in a research note on Thursday, December 19th. They issued a “buy” rating and a $11.00 price target on the stock. UBS Group raised Cryoport from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Monday, March 24th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.83.

Cryoport Stock Performance

Shares of Cryoport stock opened at $6.16 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 5.70 and a quick ratio of 5.32. The firm has a market cap of $307.45 million, a price-to-earnings ratio of -1.82 and a beta of 1.67. The stock’s 50-day moving average is $6.56 and its 200-day moving average is $7.27. Cryoport has a one year low of $4.58 and a one year high of $20.11.

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

Insider Activity at Cryoport

In other news, CEO Jerrell Shelton sold 4,620 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $6.29, for a total value of $29,059.80. Following the completion of the sale, the chief executive officer now directly owns 765,399 shares of the company’s stock, valued at $4,814,359.71. This trade represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders sold 19,830 shares of company stock worth $118,353. Insiders own 10.10% of the company’s stock.

Institutional Investors Weigh In On Cryoport

Large investors have recently added to or reduced their stakes in the business. Cadian Capital Management LP boosted its position in Cryoport by 14.1% during the fourth 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 during the period. Millennium Management LLC boosted its holdings in shares of Cryoport by 11.0% during the 4th quarter. Millennium Management LLC now owns 4,139,869 shares of the company’s stock worth $32,208,000 after buying an additional 409,353 shares during the period. Deutsche Bank AG boosted its holdings in shares of Cryoport by 0.9% during the 4th 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 during the period. Geode Capital Management LLC grew its stake in Cryoport by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,097,369 shares of the company’s stock valued at $8,902,000 after buying an additional 38,520 shares during the last quarter. Finally, State Street Corp raised its holdings in Cryoport by 2.8% in the 3rd 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 during the period. 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.