Cryoport (NASDAQ:CYRX) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Cryoport (NASDAQ:CYRX) in a research note released on Wednesday morning,Benzinga reports. They currently have a $11.00 price objective on the stock.

Several other research firms have also commented on CYRX. Guggenheim reaffirmed a “buy” rating and issued a $10.00 price target on shares of Cryoport in a report on Wednesday. Roth Mkm restated a “buy” rating and issued a $15.00 target price on shares of Cryoport in a research note on Tuesday, April 1st. Finally, UBS Group upped their target price on Cryoport from $10.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, April 1st. One research 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 $11.67.

Cryoport Price Performance

CYRX opened at $5.61 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.32 and a current ratio of 5.70. Cryoport has a 1-year low of $4.58 and a 1-year high of $17.41. The company has a 50-day moving average of $6.04 and a 200-day moving average of $7.06. The company has a market capitalization of $280.00 million, a P/E ratio of -1.66 and a beta of 1.81.

Cryoport (NASDAQ:CYRX) last announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.09). The firm had revenue of $59.53 million for the quarter, compared to the consensus estimate 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 quarter last year, the business earned ($0.29) earnings per share. Equities analysts expect that Cryoport will post -0.99 EPS for the current fiscal year.

Insider Buying and Selling at Cryoport

In related news, CEO Jerrell Shelton sold 4,620 shares of the 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 transaction, 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 SEC, which is available through the SEC website. Insiders sold 19,830 shares of company stock valued at $118,353 in the last ninety days. Company insiders own 10.10% of the company’s stock.

Institutional Trading of Cryoport

Several hedge funds have recently added to or reduced their stakes in CYRX. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Cryoport by 148.7% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,546 shares of the company’s stock valued at $28,000 after purchasing an additional 2,120 shares during the period. Lazard Asset Management LLC bought a new position in Cryoport in the 4th quarter valued at about $51,000. Avanza Fonder AB acquired a new position in Cryoport during the 4th quarter valued at about $64,000. Quarry LP acquired a new position in Cryoport during the 4th quarter valued at about $69,000. Finally, ProShare Advisors LLC bought a new stake in shares of Cryoport during the 4th quarter worth about $95,000. Institutional investors own 92.90% of the company’s stock.

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.