Cryoport, Inc. (NASDAQ:CYRX) Receives Consensus Rating of “Buy” from Brokerages


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Cryoport, Inc. (NASDAQ:CYRX) has earned an average rating of “Buy” from the nine analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $72.00.

A number of analysts have issued reports on CYRX shares. Roth Capital raised their target price on Cryoport from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, January 14th. Needham & Company LLC reissued a “buy” rating and issued a $73.00 price objective on shares of Cryoport in a report on Monday, March 8th. UBS Group began coverage on shares of Cryoport in a report on Monday, March 22nd. They set a “buy” rating and a $84.00 price objective on the stock. B. Riley lifted their target price on shares of Cryoport from $69.00 to $81.00 and gave the stock a “buy” rating in a research note on Wednesday, February 10th. Finally, Zacks Investment Research upgraded shares of Cryoport from a “sell” rating to a “hold” rating in a research note on Monday, March 1st.

CYRX traded down $1.16 during trading on Tuesday, hitting $55.34. 39,396 shares of the company traded hands, compared to its average volume of 592,601. Cryoport has a one year low of $17.71 and a one year high of $84.97. The stock’s fifty day moving average is $53.10 and its 200 day moving average is $54.44. The company has a quick ratio of 16.09, a current ratio of 16.13 and a debt-to-equity ratio of 0.93. The firm has a market cap of $2.52 billion, a P/E ratio of -95.41 and a beta of 1.23.

Cryoport (NASDAQ:CYRX) last released its earnings results on Sunday, February 28th. The consumer goods maker reported ($1.32) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($1.17). Cryoport had a negative net margin of 55.87% and a negative return on equity of 17.68%. The company had revenue of $48.40 million during the quarter, compared to analysts’ expectations of $43.96 million. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. The firm’s revenue was up 426.1% compared to the same quarter last year. On average, equities research analysts forecast that Cryoport will post -0.68 EPS for the current fiscal year.

In related news, Director Edward J. Zecchini sold 4,167 shares of the stock in a transaction on Thursday, March 11th. The shares were sold at an average price of $55.65, for a total transaction of $231,893.55. Following the transaction, the director now owns 39,190 shares of the company’s stock, valued at approximately $2,180,923.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Mark W. Sawicki sold 13,331 shares of Cryoport stock in a transaction on Wednesday, March 10th. The stock was sold at an average price of $55.13, for a total transaction of $734,938.03. Following the completion of the transaction, the insider now owns 30,342 shares in the company, valued at approximately $1,672,754.46. The disclosure for this sale can be found here. Insiders have sold 22,915 shares of company stock valued at $1,249,003 in the last three months. 11.50% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC grew its position in Cryoport by 10.4% during the 4th quarter. Nuveen Asset Management LLC now owns 156,609 shares of the consumer goods maker’s stock worth $6,872,000 after acquiring an additional 14,803 shares during the last quarter. AWM Investment Company Inc. purchased a new stake in shares of Cryoport during the fourth quarter valued at approximately $1,316,000. Lazard Asset Management LLC bought a new position in shares of Cryoport in the fourth quarter worth approximately $2,279,000. State Board of Administration of Florida Retirement System increased its stake in shares of Cryoport by 12.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 13,302 shares of the consumer goods maker’s stock worth $584,000 after buying an additional 1,480 shares during the period. Finally, Royce & Associates LP raised its holdings in Cryoport by 18.1% during the 4th quarter. Royce & Associates LP now owns 138,015 shares of the consumer goods maker’s stock valued at $6,056,000 after buying an additional 21,117 shares during the last quarter. 88.29% of the stock is owned by institutional investors.

Cryoport Company Profile

Cryoport, Inc, a life sciences services company, provides temperature-controlled logistics solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company 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, which is used to ensure that the stability of shipped biologic commodities are maintained throughout the shipping cycle; and Cryoport Express Advanced Therapy Shippers that provides verification processes to biopharma companies.

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Analyst Recommendations for Cryoport (NASDAQ:CYRX)

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