Cryoport (NASDAQ:CYRX) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Cryoport (NASDAQ:CYRX) in a research report report published on Wednesday,Benzinga reports. The firm currently has a $11.00 target price on the stock.

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

Cryoport Price Performance

Shares of NASDAQ:CYRX opened at $6.61 on Wednesday. The business’s fifty day moving average price is $7.34 and its two-hundred day moving average price is $7.62. The stock has a market cap of $326.74 million, a PE ratio of -1.96 and a beta of 1.59. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.32 and a current ratio of 5.70. Cryoport has a one year low of $4.58 and a one year high of $20.10.

Cryoport (NASDAQ:CYRX) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $58.71 million. During the same quarter last year, the business earned ($0.29) EPS. On average, analysts forecast that Cryoport will post -0.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. PharVision Advisers LLC purchased a new position in Cryoport in the fourth quarter valued at about $259,000. Squarepoint Ops LLC increased its position in shares of Cryoport by 208.4% during the fourth quarter. Squarepoint Ops LLC now owns 36,499 shares of the company’s stock worth $284,000 after acquiring an additional 24,665 shares during the last quarter. State of Wyoming increased its position in shares of Cryoport by 170.2% during the fourth quarter. State of Wyoming now owns 32,426 shares of the company’s stock worth $252,000 after acquiring an additional 20,427 shares during the last quarter. Sherbrooke Park Advisers LLC purchased a new stake in shares of Cryoport during the fourth quarter worth about $116,000. Finally, Silvercrest Asset Management Group LLC increased its position in shares of Cryoport by 77.0% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 742,914 shares of the company’s stock worth $5,780,000 after acquiring an additional 323,216 shares during the last quarter. 92.90% of the stock is owned by hedge funds and other 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.