Cryoport’s (CYRX) Buy Rating Reaffirmed at Needham & Company LLC

Cryoport (NASDAQ:CYRX)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They currently have a $11.00 price target on the stock. Needham & Company LLC’s target price points to a potential upside of 90.64% from the company’s current price.

CYRX has been the topic of several other reports. UBS Group raised their price objective on Cryoport from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, April 1st. Guggenheim assumed coverage on shares of Cryoport in a report on Thursday, December 19th. They issued a “buy” rating and a $11.00 price target on the stock. Finally, Roth Mkm restated a “buy” rating and set a $15.00 price objective on shares of Cryoport in a report on Tuesday, April 1st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.83.

Cryoport Price Performance

Shares of CYRX opened at $5.77 on Thursday. Cryoport has a 1 year low of $4.58 and a 1 year high of $17.95. The company has a debt-to-equity ratio of 0.48, a current ratio of 5.70 and a quick ratio of 5.32. The business has a 50-day moving average of $6.12 and a 200-day moving average of $7.10. The company has a market capitalization of $287.98 million, a price-to-earnings ratio of -1.71 and a beta of 1.81.

Cryoport (NASDAQ:CYRX) last released its earnings results on Tuesday, March 4th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.09). Cryoport had a negative net margin of 70.08% and a negative return on equity of 13.35%. The company had revenue of $59.53 million for the quarter, compared to analyst estimates of $58.71 million. During the same quarter in the previous year, the firm earned ($0.29) EPS. As a group, equities research analysts anticipate that Cryoport will post -0.99 earnings per share for the current year.

Insider Buying and Selling at Cryoport

In other news, CEO Jerrell Shelton sold 4,620 shares of Cryoport stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $6.29, for a total value of $29,059.80. Following the completion of the transaction, the chief executive officer now owns 765,399 shares in the company, valued at $4,814,359.71. This trade represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 19,830 shares of company stock worth $118,353 over the last ninety days. 10.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CYRX. Cadian Capital Management LP lifted its position in shares of Cryoport by 14.1% during the fourth quarter. Cadian Capital Management LP now owns 4,927,027 shares of the company’s stock worth $38,332,000 after acquiring an additional 609,021 shares in the last quarter. Millennium Management LLC grew its position in shares of Cryoport by 11.0% in the fourth quarter. Millennium Management LLC now owns 4,139,869 shares of the company’s stock valued at $32,208,000 after purchasing an additional 409,353 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Cryoport by 0.9% during the 4th quarter. Deutsche Bank AG now owns 1,397,121 shares of the company’s stock valued at $10,870,000 after purchasing an additional 12,864 shares during the period. Geode Capital Management LLC lifted its holdings in Cryoport by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,097,369 shares of the company’s stock worth $8,902,000 after purchasing an additional 38,520 shares in the last quarter. Finally, State Street Corp boosted its stake in Cryoport by 2.8% in the 3rd quarter. State Street Corp now owns 1,003,080 shares of the company’s stock worth $8,135,000 after purchasing an additional 27,438 shares during the period. 92.90% of the stock is owned by institutional investors.

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.