Cryoport, Inc. (NASDAQ:CYRX) Receives Average Rating of “Buy” from Analysts

Posted by on May 14th, 2022

Shares of Cryoport, Inc. (NASDAQ:CYRX – Get Rating) have earned an average recommendation of “Buy” from the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $64.33.

CYRX has been the topic of several research analyst reports. TheStreet lowered shares of Cryoport from a “c-” rating to a “d+” rating in a research report on Friday, January 28th. Zacks Investment Research raised shares of Cryoport from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price target on shares of Cryoport in a research report on Wednesday, April 13th. B. Riley lowered their price target on shares of Cryoport from $94.00 to $70.00 in a research report on Wednesday, March 2nd. Finally, BTIG Research decreased their target price on shares of Cryoport from $95.00 to $60.00 in a report on Friday, May 6th.

In related news, CEO Jerrell Shelton sold 3,298 shares of the firm’s stock in a transaction on Wednesday, March 9th. The stock was sold at an average price of $31.05, for a total value of $102,402.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark W. Sawicki sold 1,410 shares of the firm’s stock in a transaction on Wednesday, March 9th. The stock was sold at an average price of $31.05, for a total value of $43,780.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,803 shares of company stock valued at $180,183. Insiders own 9.70% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Cryoport by 4.7% during the first quarter. Vanguard Group Inc. now owns 3,515,305 shares of the consumer goods maker’s stock valued at $122,720,000 after acquiring an additional 159,133 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Cryoport by 2.0% during the first quarter. BlackRock Inc. now owns 3,028,269 shares of the consumer goods maker’s stock valued at $105,718,000 after acquiring an additional 59,877 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Cryoport by 4.2% during the fourth quarter. Invesco Ltd. now owns 2,742,341 shares of the consumer goods maker’s stock valued at $162,264,000 after acquiring an additional 111,418 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Cryoport by 29.1% during the first quarter. Victory Capital Management Inc. now owns 1,661,069 shares of the consumer goods maker’s stock valued at $57,632,000 after acquiring an additional 374,045 shares in the last quarter. Finally, Macquarie Group Ltd. increased its holdings in shares of Cryoport by 36.4% during the third quarter. Macquarie Group Ltd. now owns 1,449,003 shares of the consumer goods maker’s stock valued at $96,373,000 after acquiring an additional 386,940 shares in the last quarter.

Shares of CYRX stock traded up $1.98 during trading hours on Friday, hitting $24.48. 955,340 shares of the company were exchanged, compared to its average volume of 591,884. The business has a 50 day moving average of $29.21 and a two-hundred day moving average of $45.84. The company has a current ratio of 14.98, a quick ratio of 14.48 and a debt-to-equity ratio of 0.68. Cryoport has a 52 week low of $19.82 and a 52 week high of $86.30. The company has a market capitalization of $1.21 billion, a PE ratio of -4.01 and a beta of 1.30.

Cryoport (NASDAQ:CYRX – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The consumer goods maker reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.13). Cryoport had a negative return on equity of 13.79% and a negative net margin of 128.78%. The company had revenue of $52.30 million for the quarter, compared to the consensus estimate of $52.86 million. During the same period in the prior year, the company earned ($0.13) EPS. The firm’s revenue was down 1.9% on a year-over-year basis. On average, research analysts forecast that Cryoport will post -0.63 EPS for the current year.

Cryoport Company Profile (Get Rating)

Cryoport, Inc, a life sciences services company, provides temperature-controlled logistics solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Cryoportal, a cloud-based logistics management platform that supports the management of shipments, which includes order entry, document preparation, customs documentation, courier management, real-time shipment tracking and monitoring, issue resolution, and regulatory compliance requirements; and CryoPort Express Shippers, which is used to ensure that the stability of shipped biologic commodities is maintained throughout the shipping cycle.

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