Analysts Set CryoPort Inc (CYRX) Target Price at $19.75

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Shares of CryoPort Inc (NASDAQ:CYRX) have been assigned a consensus recommendation of “Buy” from the six analysts that are presently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $19.75.

A number of equities research analysts have recently issued reports on the stock. BidaskClub raised shares of CryoPort from a “hold” rating to a “buy” rating in a research note on Tuesday, March 19th. ValuEngine raised shares of CryoPort from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 31st.

In related news, Director Richard J. Berman sold 30,000 shares of CryoPort stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $11.84, for a total value of $355,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 11.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in CYRX. Jefferies Group LLC acquired a new stake in CryoPort in the 1st quarter valued at about $325,000. Geode Capital Management LLC boosted its stake in shares of CryoPort by 21.8% during the 1st quarter. Geode Capital Management LLC now owns 368,500 shares of the consumer goods maker’s stock worth $4,761,000 after purchasing an additional 65,956 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of CryoPort by 8.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 63,164 shares of the consumer goods maker’s stock worth $817,000 after purchasing an additional 4,934 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of CryoPort during the 1st quarter worth about $135,000. Finally, Northern Trust Corp boosted its stake in shares of CryoPort by 7.4% during the 1st quarter. Northern Trust Corp now owns 363,104 shares of the consumer goods maker’s stock worth $4,692,000 after purchasing an additional 24,993 shares during the last quarter. Hedge funds and other institutional investors own 53.28% of the company’s stock.

Shares of CryoPort stock traded up $0.86 on Thursday, reaching $18.24. The company had a trading volume of 1,748 shares, compared to its average volume of 268,306. The company has a market capitalization of $533.15 million, a price-to-earnings ratio of -58.84 and a beta of 1.10. CryoPort has a 52-week low of $8.28 and a 52-week high of $18.11. The company has a debt-to-equity ratio of 0.42, a quick ratio of 11.52 and a current ratio of 11.57.

CryoPort (NASDAQ:CYRX) last released its quarterly earnings results on Thursday, May 2nd. The consumer goods maker reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). The business had revenue of $6.65 million for the quarter, compared to the consensus estimate of $6.56 million. CryoPort had a negative net margin of 41.61% and a negative return on equity of 28.30%. The business’s revenue was up 65.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.10) EPS. Equities analysts expect that CryoPort will post -0.29 earnings per share for the current year.

About CryoPort

CryoPort, Inc engages in the provision of logistics solutions to the life science industry. It also provides logistics solutions for biologic materials such as immunotherapies, stem cells, CAR-T cells, and reproductive cells for clients worldwide, including points-of-care, clinical research organizations central laboratories, biopharmaceuticals, contract manufacturing, health centers, and university researchers.

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