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 report released on Wednesday morning, Benzinga reports. The firm currently has a $18.00 target price on the stock.

A number of other research analysts have also weighed in on the company. Jefferies Financial Group initiated coverage on Cryoport in a report on Thursday, April 4th. They issued a buy rating and a $21.00 price objective on the stock. Stephens reiterated an equal weight rating and issued a $17.00 price target on shares of Cryoport in a report on Wednesday, March 13th. UBS Group lifted their price objective on shares of Cryoport from $14.50 to $17.00 and gave the company a neutral rating in a research note on Friday, March 15th. Finally, B. Riley downgraded shares of Cryoport from a buy rating to a neutral rating and dropped their price objective for the company from $22.00 to $19.00 in a report on Friday, May 3rd. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $18.25.

Cryoport Stock Down 19.5 %

CYRX stock opened at $13.20 on Wednesday. The stock has a market capitalization of $648.96 million, a PE ratio of -6.00 and a beta of 1.60. Cryoport has a 52 week low of $9.00 and a 52 week high of $23.50. The company has a quick ratio of 11.16, a current ratio of 11.73 and a debt-to-equity ratio of 0.82. The firm has a 50 day moving average of $16.87 and a 200 day moving average of $15.20.

Cryoport (NASDAQ:CYRX) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.06). Cryoport had a negative return on equity of 11.86% and a negative net margin of 42.69%. The company had revenue of $54.59 million for the quarter, compared to analyst estimates of $58.78 million. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. The company’s quarterly revenue was down 13.1% on a year-over-year basis. Sell-side analysts forecast that Cryoport will post -1.42 earnings per share for the current year.

Insider Activity at Cryoport

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

Hedge Funds Weigh In On Cryoport

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Cryoport by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 3,559,092 shares of the company’s stock valued at $48,795,000 after buying an additional 74,037 shares in the last quarter. Cadian Capital Management LP lifted its position in shares of Cryoport by 30.4% in the fourth quarter. Cadian Capital Management LP now owns 3,464,079 shares of the company’s stock valued at $53,659,000 after acquiring an additional 807,340 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Cryoport by 17.9% in the third quarter. Invesco Ltd. now owns 2,062,481 shares of the company’s stock worth $28,277,000 after acquiring an additional 313,853 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Cryoport by 46.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,992,895 shares of the company’s stock worth $30,870,000 after purchasing an additional 636,395 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in Cryoport by 29.9% in the 4th quarter. New York State Common Retirement Fund now owns 1,642,752 shares of the company’s stock valued at $25,446,000 after purchasing an additional 378,340 shares during the last quarter. 92.90% of the stock is owned by hedge funds and other institutional investors.

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.