Cryoport (CYRX) to Release Earnings on Thursday

Cryoport (NASDAQ:CYRX) will be releasing its earnings data after the market closes on Thursday, November 7th. Analysts expect Cryoport to post earnings of ($0.29) per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Cryoport (NASDAQ:CYRX) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($1.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($1.25). The company had revenue of $57.60 million during the quarter, compared to analysts’ expectations of $57.65 million. Cryoport had a negative return on equity of 15.55% and a negative net margin of 76.48%. Cryoport’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the company earned ($0.42) earnings per share. On average, analysts expect Cryoport to post $-2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Cryoport Stock Up 2.9 %

Shares of CYRX traded up $0.22 during trading hours on Tuesday, hitting $7.89. 87,985 shares of the company were exchanged, compared to its average volume of 567,691. The company has a market cap of $389.86 million, a PE ratio of -2.09 and a beta of 1.63. The company has a debt-to-equity ratio of 0.97, a quick ratio of 7.99 and a current ratio of 8.38. Cryoport has a 52 week low of $5.32 and a 52 week high of $20.10. The firm’s 50 day moving average is $7.81 and its 200-day moving average is $9.44.

Cryoport announced that its board has authorized a share buyback program on Tuesday, August 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 49.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have issued reports on CYRX. Jefferies Financial Group lowered Cryoport from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $20.00 to $8.00 in a research note on Wednesday, August 7th. UBS Group upped their target price on shares of Cryoport from $7.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Needham & Company LLC dropped their price objective on Cryoport from $18.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, B. Riley upgraded Cryoport from a “neutral” rating to a “buy” rating and cut their price objective for the company from $19.00 to $15.00 in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $12.00.

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.