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

Shares of Cryoport, Inc. (NASDAQ:CYRX) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $11.50.

A number of analysts recently issued reports on the company. Guggenheim assumed coverage on Cryoport in a research note on Thursday, December 19th. They set a “buy” rating and a $11.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $11.00 target price on shares of Cryoport in a research note on Wednesday, March 5th.

Cryoport Stock Performance

Shares of NASDAQ:CYRX opened at $7.04 on Thursday. The firm’s 50 day simple moving average is $7.17 and its 200 day simple moving average is $7.52. Cryoport has a fifty-two week low of $4.58 and a fifty-two week high of $20.11. 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 company has a market capitalization of $347.99 million, a price-to-earnings ratio of -2.08 and a beta of 1.67.

Cryoport (NASDAQ:CYRX) last posted 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 return on equity of 13.35% and a negative net margin of 70.08%. The business had revenue of $59.53 million for the quarter, compared to the consensus estimate of $58.71 million. During the same period in the previous year, the company posted ($0.29) earnings per share. As a group, sell-side analysts forecast that Cryoport will post -0.99 earnings per share for the current year.

Hedge Funds Weigh In On Cryoport

Hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Cryoport by 148.7% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,546 shares of the company’s stock worth $28,000 after acquiring an additional 2,120 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Cryoport during the 4th quarter worth approximately $51,000. Avanza Fonder AB acquired a new stake in shares of Cryoport in the 4th quarter valued at approximately $64,000. Quarry LP acquired a new stake in shares of Cryoport in the 4th quarter valued at approximately $69,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Cryoport in the 3rd quarter valued at approximately $82,000. 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.