Cryoport, Inc. (NASDAQ:CYRX) Given Average Rating of “Hold” by Brokerages

Cryoport, Inc. (NASDAQ:CYRX) has earned an average recommendation of “Hold” from the five research firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $12.00.

Several research firms recently commented on CYRX. Needham & Company LLC cut their target price on shares of Cryoport from $18.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Roth Mkm cut their price target on shares of Cryoport from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Friday. UBS Group boosted their price target on shares of Cryoport from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Jefferies Financial Group lowered shares of Cryoport from a “buy” rating to a “hold” rating and cut their price target for the company from $20.00 to $8.00 in a report on Wednesday, August 7th. Finally, B. Riley upgraded shares of Cryoport from a “neutral” rating to a “buy” rating and cut their price target for the company from $19.00 to $15.00 in a report on Wednesday, July 31st.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Comerica Bank increased its stake in Cryoport by 73.0% in the 1st quarter. Comerica Bank now owns 3,481 shares of the company’s stock valued at $62,000 after buying an additional 1,469 shares during the period. Quest Partners LLC increased its stake in shares of Cryoport by 1,083,000.0% during the 2nd quarter. Quest Partners LLC now owns 10,831 shares of the company’s stock worth $75,000 after purchasing an additional 10,830 shares during the last quarter. Hsbc Holdings PLC acquired a new position in shares of Cryoport during the 2nd quarter worth $92,000. Lazard Asset Management LLC increased its stake in shares of Cryoport by 294.3% during the 1st quarter. Lazard Asset Management LLC now owns 5,378 shares of the company’s stock worth $95,000 after purchasing an additional 4,014 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Cryoport by 9.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,683 shares of the company’s stock worth $122,000 after purchasing an additional 1,534 shares during the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

Cryoport Price Performance

Shares of NASDAQ:CYRX traded down $0.41 during trading on Friday, reaching $7.61. The company had a trading volume of 270,096 shares, compared to its average volume of 567,157. Cryoport has a twelve month low of $5.32 and a twelve month high of $20.10. The firm has a market capitalization of $376.01 million, a PE ratio of -2.03 and a beta of 1.63. The firm’s fifty day moving average is $7.76 and its 200 day moving average is $9.37. The company has a debt-to-equity ratio of 0.97, a quick ratio of 7.99 and a current ratio of 8.38.

Cryoport (NASDAQ:CYRX) last released its earnings results on Tuesday, August 6th. The company reported ($1.62) EPS for the quarter, missing the consensus estimate of ($0.37) by ($1.25). Cryoport had a negative net margin of 76.48% and a negative return on equity of 15.55%. The business had revenue of $57.60 million for the quarter, compared to analyst estimates of $57.65 million. During the same period in the prior year, the company earned ($0.42) earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities analysts forecast that Cryoport will post -1.65 EPS for the current year.

Cryoport declared that its board has authorized a stock buyback plan on Tuesday, August 6th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 49.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

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.