CryoPort Inc. (CYRX) Receives $11.63 Average Price Target from Brokerages

CryoPort Inc. (NASDAQ:CYRX) has received an average rating of “Buy” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $11.63.

Several equities research analysts have commented on CYRX shares. ValuEngine raised shares of CryoPort from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. BidaskClub cut shares of CryoPort from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 28th. Finally, Needham & Company LLC reissued a “buy” rating and set a $11.00 price target (up from $10.00) on shares of CryoPort in a research report on Thursday, March 8th.

In other news, CEO Jerrell Shelton sold 29,257 shares of the stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $9.83, for a total transaction of $287,596.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.60% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Creative Planning purchased a new position in shares of CryoPort during the 4th quarter worth $5,176,000. Taylor Wealth Management Partners raised its holdings in CryoPort by 5.6% in the 4th quarter. Taylor Wealth Management Partners now owns 415,575 shares of the consumer goods maker’s stock worth $3,570,000 after purchasing an additional 21,935 shares in the last quarter. OppenheimerFunds Inc. raised its holdings in CryoPort by 20.6% in the 4th quarter. OppenheimerFunds Inc. now owns 406,829 shares of the consumer goods maker’s stock worth $3,495,000 after purchasing an additional 69,571 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in CryoPort by 240.5% in the 4th quarter. Allianz Asset Management GmbH now owns 387,099 shares of the consumer goods maker’s stock worth $3,325,000 after purchasing an additional 273,426 shares in the last quarter. Finally, Pier Capital LLC bought a new position in CryoPort in the 4th quarter worth $2,916,000. Institutional investors own 24.46% of the company’s stock.

Shares of NASDAQ:CYRX traded up $0.14 during midday trading on Thursday, hitting $9.83. 151,167 shares of the stock were exchanged, compared to its average volume of 143,532. CryoPort has a 52-week low of $2.89 and a 52-week high of $10.40. The firm has a market cap of $264.14 million, a price-to-earnings ratio of -28.91 and a beta of 0.71.

CryoPort (NASDAQ:CYRX) last announced its quarterly earnings results on Thursday, May 3rd. The consumer goods maker reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). CryoPort had a negative return on equity of 48.12% and a negative net margin of 66.29%. The business had revenue of $4.02 million for the quarter, compared to the consensus estimate of $3.84 million. During the same quarter in the prior year, the business earned ($0.10) EPS. The firm’s revenue for the quarter was up 48.3% on a year-over-year basis. sell-side analysts anticipate that CryoPort will post -0.29 earnings per share for the current fiscal year.

CryoPort Company Profile

Cryoport, Inc provides cryogenic logistics solutions to the life sciences industry 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, issue resolution, and regulatory compliance requirements; and CryoPort Express Shippers, a dry vapor cryogenic shipper that use liquid nitrogen contained inside a vacuum insulated vessel, which serves as a refrigerant to provide stable storage temperatures.

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