Needham & Company LLC Forecasts Strong Price Appreciation for CryoPort (NASDAQ:CYRX) Stock

CryoPort (NASDAQ:CYRX) had its price target raised by stock analysts at Needham & Company LLC from $12.00 to $13.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 53.12% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. UBS Group raised their target price on shares of CryoPort from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CryoPort in a research report on Monday, December 29th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.94.

CryoPort Trading Up 3.4%

CryoPort stock opened at $8.49 on Wednesday. CryoPort has a 1 year low of $4.58 and a 1 year high of $11.45. The firm’s 50 day moving average price is $9.51 and its 200-day moving average price is $9.41. The company has a debt-to-equity ratio of 0.40, a current ratio of 15.77 and a quick ratio of 15.01. The stock has a market cap of $425.09 million, a P/E ratio of 7.26 and a beta of 1.69.

CryoPort (NASDAQ:CYRX) last issued its earnings results on Tuesday, March 3rd. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.08). The firm had revenue of $45.45 million during the quarter, compared to the consensus estimate of $42.92 million. CryoPort had a negative return on equity of 11.07% and a net margin of 35.57%. On average, equities analysts predict that CryoPort will post -0.99 earnings per share for the current fiscal year.

Insider Transactions at CryoPort

In related news, Director Ramkumar Mandalam sold 11,570 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $9.99, for a total value of $115,584.30. Following the completion of the transaction, the director directly owned 80,758 shares in the company, valued at approximately $806,772.42. This represents a 12.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 10.10% of the company’s stock.

Institutional Investors Weigh In On CryoPort

Several institutional investors and hedge funds have recently modified their holdings of CYRX. Assenagon Asset Management S.A. increased its holdings in CryoPort by 37.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,498,774 shares of the company’s stock worth $14,208,000 after purchasing an additional 408,263 shares during the period. SG Americas Securities LLC grew its position in shares of CryoPort by 663.2% during the third quarter. SG Americas Securities LLC now owns 127,280 shares of the company’s stock worth $1,207,000 after buying an additional 110,602 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of CryoPort during the second quarter worth approximately $292,000. Bullseye Asset Management LLC lifted its stake in CryoPort by 23.0% in the second quarter. Bullseye Asset Management LLC now owns 260,168 shares of the company’s stock worth $1,941,000 after acquiring an additional 48,605 shares during the last quarter. Finally, Thematics Asset Management lifted its stake in CryoPort by 12.8% in the second quarter. Thematics Asset Management now owns 1,914,885 shares of the company’s stock worth $14,285,000 after acquiring an additional 216,937 shares during the last quarter. Hedge funds and other institutional investors own 92.90% of the company’s stock.

CryoPort Company Profile

CryoPort, Inc (NASDAQ: CYRX) is a global provider of temperature-controlled logistics solutions for the life sciences industry. The company specializes in cryogenic shipping for critical biological materials, supporting the development, clinical testing and commercialization of cell and gene therapies, biologics, vaccines and reproductive medicine. By offering end-to-end supply chain management, CryoPort helps ensure the integrity and viability of temperature-sensitive products from point of origin to destination.

CryoPort’s product portfolio includes proprietary cryogenic dry shippers, advanced active and passive thermal packaging, and real-time data monitoring platforms.