CryoPort’s (CYRX) “Buy” Rating Reiterated at BTIG Research

CryoPort (NASDAQ:CYRX)‘s stock had its “buy” rating restated by research analysts at BTIG Research in a research note issued on Friday, Benzinga reports. They currently have a $25.00 target price on the stock. BTIG Research’s target price points to a potential upside of 48.99% from the stock’s current price.

A number of other brokerages also recently weighed in on CYRX. Roth Capital restated a “buy” rating and issued a $21.00 target price on shares of CryoPort in a research note on Friday, August 7th. Guggenheim lifted their price target on CryoPort from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Craig Hallum boosted their price objective on CryoPort from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Jefferies Financial Group set a $13.50 price objective on CryoPort in a research note on Monday, June 8th. Finally, Needham & Company LLC raised their target price on CryoPort from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $18.00.

CryoPort Price Performance

NASDAQ CYRX opened at $16.78 on Friday. The company has a fifty day moving average price of $15.77 and a 200-day moving average price of $13.30. The firm has a market cap of $849.91 million, a price-to-earnings ratio of -18.64 and a beta of 1.89. CryoPort has a 1 year low of $7.61 and a 1 year high of $17.20.

CryoPort (NASDAQ:CYRX) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). CryoPort had a negative net margin of 20.05% and a negative return on equity of 7.20%. The firm had revenue of $48.97 million for the quarter, compared to the consensus estimate of $48.18 million. On average, research analysts anticipate that CryoPort will post -0.83 EPS for the current fiscal year.

Insider Activity at CryoPort

In related news, CEO Jerrell Shelton sold 28,800 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $14.91, for a total value of $429,408.00. Following the transaction, the chief executive officer owned 1,201,814 shares in the company, valued at approximately $17,919,046.74. This represents a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 9.50% of the company’s stock.

Institutional Trading of CryoPort

Large investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its stake in shares of CryoPort by 0.6% in the first quarter. Assenagon Asset Management S.A. now owns 1,495,683 shares of the company’s stock valued at $12,384,000 after buying an additional 8,280 shares during the period. Wellington Management Group LLP bought a new position in shares of CryoPort during the 2nd quarter worth $8,398,000. Meros Investment Management LP grew its stake in shares of CryoPort by 13.9% during the 4th quarter. Meros Investment Management LP now owns 626,427 shares of the company’s stock worth $6,014,000 after acquiring an additional 76,687 shares during the period. Squarepoint Ops LLC increased its holdings in CryoPort by 685.1% in the 2nd quarter. Squarepoint Ops LLC now owns 368,424 shares of the company’s stock worth $5,784,000 after acquiring an additional 321,497 shares during the last quarter. Finally, Empire Financial Management Company LLC increased its holdings in CryoPort by 24.4% in the 1st quarter. Empire Financial Management Company LLC now owns 502,575 shares of the company’s stock worth $4,161,000 after acquiring an additional 98,714 shares during the last quarter. 92.90% of the stock is owned by hedge funds and other institutional investors.

CryoPort Company Profile

Cryoport, Inc (NASDAQ: CYRX) provides temperature-controlled logistics and supply-chain solutions for the life sciences industry. The company supports the transportation, storage and management of sensitive biological materials, including cell and gene therapies, biologics, vaccines, clinical-trial materials and reproductive tissues.

Its offerings include specialized cryogenic and refrigerated shipping systems, monitoring and tracking technologies, logistics coordination, packaging and storage services, and related bioservices.