Cryoport (NASDAQ:CYRX) Releases Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Cryoport (NASDAQ:CYRX) issued its quarterly earnings results on Tuesday. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06), Briefing.com reports. The company had revenue of $54.59 million during the quarter, compared to the consensus estimate of $58.78 million. Cryoport had a negative return on equity of 11.86% and a negative net margin of 42.69%. The firm’s revenue for the quarter was down 13.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.16) EPS.

Cryoport Stock Down 19.5 %

Shares of NASDAQ:CYRX opened at $13.20 on Thursday. Cryoport has a 52-week low of $9.00 and a 52-week high of $23.50. The company has a market capitalization of $648.96 million, a PE ratio of -6.00 and a beta of 1.60. The company has a debt-to-equity ratio of 0.82, a quick ratio of 11.16 and a current ratio of 11.73. The company has a fifty day moving average of $16.87 and a 200-day moving average of $15.20.

Analysts Set New Price Targets

CYRX has been the topic of a number of analyst reports. Jefferies Financial Group began coverage on shares of Cryoport in a research note on Thursday, April 4th. They set a “buy” rating and a $21.00 price objective on the stock. UBS Group increased their price target on shares of Cryoport from $14.50 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. B. Riley downgraded shares of Cryoport from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $22.00 to $19.00 in a research report on Friday, May 3rd. Stephens reaffirmed an “equal weight” rating and issued a $17.00 target price on shares of Cryoport in a report on Wednesday, March 13th. Finally, Needham & Company LLC reissued a “buy” rating and set a $18.00 price target on shares of Cryoport in a report on Wednesday. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Cryoport presently has an average rating of “Hold” and a consensus price target of $18.25.

Insider Activity at Cryoport

In other Cryoport news, CEO Jerrell Shelton sold 57,039 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $15.30, for a total value of $872,696.70. Following the completion of the transaction, the chief executive officer now owns 634,352 shares of the company’s stock, valued at approximately $9,705,585.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Cryoport news, CEO Jerrell Shelton sold 57,039 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $15.30, for a total transaction of $872,696.70. Following the sale, the chief executive officer now directly owns 634,352 shares of the company’s stock, valued at approximately $9,705,585.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ramkumar Mandalam sold 3,217 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $14.68, for a total transaction of $47,225.56. Following the transaction, the director now directly owns 43,187 shares of the company’s stock, valued at approximately $633,985.16. The disclosure for this sale can be found here. Insiders have sold a total of 73,940 shares of company stock valued at $1,147,538 in the last 90 days. 10.10% of the stock is owned by corporate insiders.

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.