CryoPort (NASDAQ:CYRX) Rating Increased to Buy at BidaskClub

CryoPort (NASDAQ:CYRX) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, July 6th, BidAskClub reports.

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price target on shares of ACADIA Pharmaceuticals in a report on Monday, July 1st. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $20.00.

Shares of NASDAQ CYRX opened at $19.71 on Friday. CryoPort has a twelve month low of $8.28 and a twelve month high of $20.20. The company has a quick ratio of 11.52, a current ratio of 11.57 and a debt-to-equity ratio of 0.42. The company has a fifty day moving average price of $18.15.

CryoPort (NASDAQ:CYRX) last issued its quarterly earnings data on Thursday, May 2nd. The consumer goods maker reported ($0.08) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.08). CryoPort had a negative return on equity of 28.30% and a negative net margin of 41.61%. The business had revenue of $6.65 million during the quarter, compared to analysts’ expectations of $6.56 million. During the same period in the previous year, the firm posted ($0.10) earnings per share. The company’s revenue was up 65.4% on a year-over-year basis. As a group, research analysts anticipate that CryoPort will post -0.29 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of CYRX. BNP Paribas Arbitrage SA acquired a new position in CryoPort during the 1st quarter worth approximately $74,000. Metropolitan Life Insurance Co. NY increased its position in CryoPort by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,607 shares of the consumer goods maker’s stock worth $95,000 after purchasing an additional 6,722 shares during the period. MML Investors Services LLC acquired a new position in CryoPort during the 4th quarter worth approximately $157,000. Bank of America Corp DE increased its position in CryoPort by 92.3% during the 4th quarter. Bank of America Corp DE now owns 16,037 shares of the consumer goods maker’s stock worth $176,000 after purchasing an additional 7,697 shares during the period. Finally, Conestoga Capital Advisors LLC acquired a new stake in shares of CryoPort in the 1st quarter worth approximately $355,000. 52.53% of the stock is owned by hedge funds and other institutional investors.

CryoPort Company Profile

CryoPort, Inc engages in the provision of logistics solutions to the life science industry. It also provides logistics solutions for biologic materials such as immunotherapies, stem cells, CAR-T cells, and reproductive cells for clients worldwide, including points-of-care, clinical research organizations central laboratories, biopharmaceuticals, contract manufacturing, health centers, and university researchers.

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