UBS Group Upgrades Cryoport (NASDAQ:CYRX) to Buy

Cryoport (NASDAQ:CYRX) was upgraded by research analysts at UBS Group from a “neutral” rating to a “buy” rating in a report issued on Monday, MarketBeat Ratings reports. The firm currently has a $10.00 target price on the stock. UBS Group’s price objective would suggest a potential upside of 60.26% from the stock’s current price.

Several other equities research analysts have also commented on CYRX. Guggenheim initiated coverage on Cryoport in a research note on Thursday, December 19th. They set a “buy” rating and a $11.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price target on shares of Cryoport in a research note on Wednesday, March 5th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Cryoport presently has an average rating of “Moderate Buy” and a consensus target price of $11.67.

Cryoport Price Performance

Cryoport stock opened at $6.24 on Monday. The stock has a market capitalization of $311.44 million, a P/E ratio of -1.85 and a beta of 1.67. The company’s fifty day moving average price is $6.75 and its 200 day moving average price is $7.35. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.32 and a current ratio of 5.70. Cryoport has a 1 year low of $4.58 and a 1 year high of $20.11.

Cryoport (NASDAQ:CYRX) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.42) earnings per share (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 analysts’ expectations 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 in the previous year, the business earned ($0.29) earnings per share. As a group, equities research analysts anticipate that Cryoport will post -0.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cryoport news, CEO Jerrell Shelton sold 4,620 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $6.29, for a total value of $29,059.80. Following the completion of the sale, the chief executive officer now directly owns 765,399 shares in the company, valued at $4,814,359.71. This represents a 0.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 14,431 shares of company stock valued at $80,884 in the last ninety days. 10.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Quest Partners LLC boosted its holdings in Cryoport by 168.5% in the 3rd quarter. Quest Partners LLC now owns 29,083 shares of the company’s stock valued at $236,000 after purchasing an additional 18,252 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Cryoport during the 3rd quarter valued at approximately $326,000. Intech Investment Management LLC purchased a new stake in shares of Cryoport during the 3rd quarter valued at approximately $105,000. Charles Schwab Investment Management Inc. lifted its holdings in Cryoport by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 387,714 shares of the company’s stock valued at $3,144,000 after acquiring an additional 2,226 shares during the last quarter. Finally, Algert Global LLC grew its position in Cryoport by 282.7% in the third quarter. Algert Global LLC now owns 247,483 shares of the company’s stock worth $2,007,000 after acquiring an additional 182,808 shares during the period. Institutional investors and hedge funds own 92.90% of the company’s stock.

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.