Cryoport (NASDAQ:CYRX) Releases Earnings Results, Misses Estimates By $0.06 EPS

Cryoport (NASDAQ:CYRX) issued its earnings results on Tuesday. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06), Briefing.com reports. The firm had revenue of $54.59 million during the quarter, compared to the consensus estimate of $58.78 million. Cryoport had a negative return on equity of 11.86% and a negative net margin of 42.69%. Cryoport’s revenue for the quarter was down 13.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.16) earnings per share.

Cryoport Price Performance

CYRX opened at $16.40 on Wednesday. The stock has a market capitalization of $806.22 million, a P/E ratio of -7.45 and a beta of 1.60. The company has a current ratio of 11.73, a quick ratio of 11.16 and a debt-to-equity ratio of 0.82. Cryoport has a 12-month low of $9.00 and a 12-month high of $24.17. The stock has a 50-day moving average price of $16.93 and a 200-day moving average price of $15.22.

Insiders Place Their Bets

In other news, CEO Jerrell Shelton sold 2,631 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $17.54, for a total value of $46,147.74. Following the completion of the sale, the chief executive officer now owns 692,182 shares of the company’s stock, valued at approximately $12,140,872.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Ramkumar Mandalam sold 3,217 shares of Cryoport stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $14.68, for a total value of $47,225.56. Following the transaction, the director now owns 43,187 shares in the company, valued at $633,985.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jerrell Shelton sold 2,631 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $17.54, for a total value of $46,147.74. Following the sale, the chief executive officer now owns 692,182 shares of the company’s stock, valued at $12,140,872.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,940 shares of company stock valued at $1,147,538. 10.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CYRX. Jefferies Financial Group began coverage on Cryoport in a research report on Thursday, April 4th. They set a “buy” rating and a $21.00 target price for the company. UBS Group increased their target price on Cryoport from $14.50 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Stephens reiterated an “equal weight” rating and set a $17.00 price objective on shares of Cryoport in a research note on Wednesday, March 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 target price on shares of Cryoport in a report on Wednesday. Finally, B. Riley downgraded shares of Cryoport from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $22.00 to $19.00 in a report on Friday, May 3rd. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Cryoport currently has a consensus rating of “Hold” and a consensus price target of $18.25.

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.