Cryoport’s (CYRX) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Cryoport (NASDAQ:CYRX) in a research report sent to investors on Monday,Benzinga reports. Needham & Company LLC currently has a $11.00 price target on the stock.

A number of other equities research analysts also recently weighed in on the company. UBS Group upgraded Cryoport from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Monday, March 24th. Guggenheim initiated coverage on Cryoport in a report on Thursday, December 19th. They set a “buy” rating and a $11.00 price objective for the company. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Cryoport has an average rating of “Moderate Buy” and a consensus price target of $11.83.

Cryoport Stock Up 1.1 %

Shares of NASDAQ CYRX opened at $6.16 on Monday. The company has a quick ratio of 5.32, a current ratio of 5.70 and a debt-to-equity ratio of 0.48. The company has a market cap of $307.45 million, a price-to-earnings ratio of -1.82 and a beta of 1.67. Cryoport has a 12-month low of $4.58 and a 12-month high of $20.11. The firm’s 50-day simple moving average is $6.56 and its 200 day simple moving average is $7.27.

Cryoport (NASDAQ:CYRX) last released its quarterly earnings results on Tuesday, March 4th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.09). The company had revenue of $59.53 million for the quarter, compared to the consensus estimate of $58.71 million. Cryoport had a negative net margin of 70.08% and a negative return on equity of 13.35%. During the same period last year, the company earned ($0.29) earnings per share. On average, research analysts expect that Cryoport will post -0.99 earnings per share for the current fiscal year.

Insider Transactions at Cryoport

In related news, CEO Jerrell Shelton sold 4,620 shares of Cryoport stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $6.29, for a total transaction of $29,059.80. Following the transaction, the chief executive officer now owns 765,399 shares of the company’s stock, valued at $4,814,359.71. This trade represents a 0.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders sold 19,830 shares of company stock worth $118,353. 10.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cryoport

Hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Cryoport by 148.7% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,546 shares of the company’s stock valued at $28,000 after buying an additional 2,120 shares during the period. Lazard Asset Management LLC bought a new position in Cryoport during the fourth quarter worth about $51,000. Avanza Fonder AB acquired a new position in Cryoport in the fourth quarter valued at about $64,000. Quarry LP bought a new stake in shares of Cryoport in the fourth quarter worth about $69,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Cryoport during the third quarter worth about $82,000. 92.90% of the stock is currently owned by institutional investors and hedge funds.

Cryoport Company Profile

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.