Cryoport (NASDAQ:CYRX) Earns “Buy” Rating from Needham & Company LLC

Cryoport (NASDAQ:CYRX)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They currently have a $11.00 price objective on the stock. Needham & Company LLC’s target price indicates a potential upside of 117.39% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Roth Mkm cut their price target on Cryoport from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Guggenheim started coverage on Cryoport in a research report on Thursday, December 19th. They issued a “buy” rating and a $11.00 price objective for the company. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Cryoport presently has an average rating of “Moderate Buy” and an average price target of $12.29.

Cryoport Stock Up 5.4 %

Shares of CYRX stock opened at $5.06 on Wednesday. The company has a current ratio of 5.70, a quick ratio of 5.32 and a debt-to-equity ratio of 0.48. Cryoport has a twelve month low of $4.58 and a twelve month high of $20.10. The stock has a 50 day moving average of $7.39 and a 200 day moving average of $7.65. The stock has a market cap of $250.12 million, a P/E ratio of -1.50 and a beta of 1.59.

Cryoport (NASDAQ:CYRX) last announced its quarterly 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 firm had revenue of $59.53 million for the quarter, compared to analysts’ expectations of $58.71 million. During the same period last year, the company posted ($0.29) earnings per share. As a group, sell-side analysts expect that Cryoport will post -0.99 EPS for the current year.

Institutional Investors Weigh In On Cryoport

Hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. increased its holdings 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 buying an additional 2,120 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Cryoport during the fourth quarter worth $51,000. Avanza Fonder AB purchased a new stake in Cryoport in the fourth quarter valued at $64,000. Quarry LP acquired a new position in shares of Cryoport in the 4th quarter valued at $69,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Cryoport during the 3rd quarter worth $82,000. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Cryoport Company Profile

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.