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

Cryoport (NASDAQ:CYRX)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They currently have a $11.00 price objective on the stock. Needham & Company LLC’s target price points to a potential upside of 104.84% from the company’s current price.

A number of other analysts also recently weighed in on the stock. UBS Group boosted their target price on shares of Cryoport from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, April 1st. Roth Mkm restated a “buy” rating and issued a $15.00 target price on shares of Cryoport in a report on Tuesday, April 1st. Finally, Guggenheim initiated coverage on shares of Cryoport in a report on Thursday, December 19th. They set a “buy” rating and a $11.00 price target on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Cryoport has an average rating of “Moderate Buy” and a consensus target price of $11.83.

Cryoport Price Performance

NASDAQ CYRX traded up $0.01 on Thursday, reaching $5.37. The company had a trading volume of 134,934 shares, compared to its average volume of 539,726. The company has a quick ratio of 5.32, a current ratio of 5.70 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $268.02 million, a PE ratio of -1.59 and a beta of 1.81. The firm’s 50 day moving average price is $6.19 and its 200 day moving average price is $7.13. Cryoport has a 12 month low of $4.58 and a 12 month high of $18.56.

Cryoport (NASDAQ:CYRX) last announced 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). Cryoport had a negative net margin of 70.08% and a negative return on equity of 13.35%. The company had revenue of $59.53 million during the quarter, compared to the consensus estimate of $58.71 million. During the same quarter in the prior year, the firm posted ($0.29) earnings per share. As a group, equities analysts predict that Cryoport will post -0.99 earnings per share for the current year.

Insider Activity at Cryoport

In related news, CEO Jerrell Shelton sold 4,620 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $6.29, for a total transaction of $29,059.80. Following the transaction, the chief executive officer now directly owns 765,399 shares in the company, valued at approximately $4,814,359.71. This represents a 0.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have 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

Several large investors have recently added to or reduced their stakes in CYRX. Point72 Asia Singapore Pte. Ltd. boosted its position in Cryoport by 148.7% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,546 shares of the company’s stock valued at $28,000 after buying an additional 2,120 shares during the period. Lazard Asset Management LLC purchased a new stake in Cryoport during the fourth quarter valued at approximately $51,000. Avanza Fonder AB purchased a new stake in Cryoport during the fourth quarter valued at approximately $64,000. Quarry LP purchased a new stake in Cryoport during the fourth quarter valued at approximately $69,000. Finally, GAMMA Investing LLC lifted its position in Cryoport by 4,434.6% during the first quarter. GAMMA Investing LLC now owns 14,556 shares of the company’s stock valued at $89,000 after acquiring an additional 14,235 shares during the last quarter. 92.90% of the stock is owned by hedge funds and other institutional investors.

Cryoport Company Profile

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.