Roth Capital Increases Cryoport (NASDAQ:CYRX) Price Target to $72.00


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Cryoport (NASDAQ:CYRX) had its price objective increased by investment analysts at Roth Capital from $60.00 to $72.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the consumer goods maker’s stock. Roth Capital’s price objective would suggest a potential upside of 22.55% from the stock’s previous close.

A number of other brokerages have also weighed in on CYRX. B. Riley lifted their target price on shares of Cryoport from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday. KeyCorp initiated coverage on shares of Cryoport in a research note on Monday, November 9th. They set an “overweight” rating and a $54.00 price objective on the stock. Zacks Investment Research raised shares of Cryoport from a “sell” rating to a “hold” rating in a research note on Monday, January 4th. BidaskClub lowered shares of Cryoport from a “hold” rating to a “sell” rating in a research note on Monday, October 26th. Finally, ValuEngine lowered shares of Cryoport from a “buy” rating to a “hold” rating in a research note on Tuesday, December 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $47.71.

Shares of CYRX opened at $58.75 on Thursday. The firm’s 50-day moving average price is $48.90 and its 200-day moving average price is $44.31. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -98.16 and a beta of 1.23. The company has a current ratio of 16.13, a quick ratio of 16.09 and a debt-to-equity ratio of 0.93. Cryoport has a 1-year low of $13.01 and a 1-year high of $63.36.

Cryoport (NASDAQ:CYRX) last announced its earnings results on Thursday, November 5th. The consumer goods maker reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.16). The company had revenue of $11.20 million for the quarter, compared to the consensus estimate of $10.55 million. Cryoport had a negative net margin of 55.87% and a negative return on equity of 17.68%. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.05) EPS. On average, research analysts forecast that Cryoport will post -0.73 EPS for the current fiscal year.

In other Cryoport news, Director Richard J. Berman sold 20,000 shares of Cryoport stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $55.55, for a total value of $1,111,000.00. Following the completion of the transaction, the director now directly owns 8,300 shares of the company’s stock, valued at $461,065. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 11.50% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CYRX. FMR LLC purchased a new position in shares of Cryoport during the second quarter valued at approximately $11,908,000. Handelsbanken Fonder AB increased its holdings in Cryoport by 100.0% during the third quarter. Handelsbanken Fonder AB now owns 690,000 shares of the consumer goods maker’s stock valued at $32,706,000 after buying an additional 345,000 shares during the last quarter. Ratan Capital Management LP bought a new position in shares of Cryoport in the third quarter worth approximately $9,480,000. Voloridge Investment Management LLC boosted its position in shares of Cryoport by 2,518.4% during the third quarter. Voloridge Investment Management LLC now owns 186,769 shares of the consumer goods maker’s stock worth $8,853,000 after acquiring an additional 179,636 shares during the last quarter. Finally, Williams Jones Wealth Management LLC. bought a new position in shares of Cryoport during the third quarter worth $5,794,000. 88.29% of the stock is owned by hedge funds and other institutional investors.

Cryoport Company Profile

Cryoport, Inc provides temperature-controlled logistics and biostorage services to the life sciences industry in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, Global Logistics Solutions and Global Bioservices. The Global Logistics Solutions segment offers Cryoportal, a cloud-based logistics management platform that supports the management of shipments, which includes order entry, document preparation, customs documentation, courier management, real-time shipment tracking and monitoring, issue resolution, and regulatory compliance requirements; and CryoPort Express Shippers, a dry vapor cryogenic shipper that use liquid nitrogen contained inside a vacuum insulated vessel, which serves as a refrigerant to provide stable storage temperatures.

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Analyst Recommendations for Cryoport (NASDAQ:CYRX)

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