Cryoport, Inc. (NASDAQ:CYRX) Receives $88.17 Average Price Target from Analysts

Shares of Cryoport, Inc. (NASDAQ:CYRX) have been assigned an average rating of “Buy” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $88.17.

A number of brokerages have recently commented on CYRX. KeyCorp raised their price target on Cryoport from $75.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, November 5th. BTIG Research upped their price target on shares of Cryoport from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, October 26th. B. Riley reiterated a “buy” rating on shares of Cryoport in a report on Thursday, November 11th. Needham & Company LLC boosted their target price on Cryoport from $79.00 to $93.00 and gave the stock a “buy” rating in a report on Friday, November 5th. Finally, Roth Capital lowered Cryoport from a “buy” rating to a “neutral” rating and increased their price target for the company from $78.00 to $90.00 in a research note on Friday, November 5th. They noted that the move was a valuation call.

In other Cryoport news, CEO Jerrell Shelton sold 64,963 shares of the firm’s stock in a transaction dated Friday, December 10th. The shares were sold at an average price of $65.15, for a total value of $4,232,339.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Freeze Parent L.P. Blackstone sold 500,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 16th. The shares were sold at an average price of $76.00, for a total transaction of $38,000,000.00. The disclosure for this sale can be found here. Insiders sold a total of 641,717 shares of company stock worth $48,270,373 over the last 90 days. Insiders own 10.90% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. increased its holdings in shares of Cryoport by 12.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 55,017 shares of the consumer goods maker’s stock valued at $3,472,000 after purchasing an additional 5,945 shares during the period. Teacher Retirement System of Texas grew its position in Cryoport by 18.7% during the second quarter. Teacher Retirement System of Texas now owns 4,936 shares of the consumer goods maker’s stock valued at $311,000 after purchasing an additional 776 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Cryoport by 35.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,271 shares of the consumer goods maker’s stock valued at $332,000 after buying an additional 1,376 shares during the period. Sei Investments Co. lifted its position in Cryoport by 19.4% in the 2nd quarter. Sei Investments Co. now owns 17,938 shares of the consumer goods maker’s stock worth $1,165,000 after buying an additional 2,911 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Cryoport by 500.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,400 shares of the consumer goods maker’s stock valued at $151,000 after buying an additional 2,000 shares during the period.

NASDAQ CYRX traded down $1.20 on Friday, hitting $44.58. The stock had a trading volume of 24,628 shares, compared to its average volume of 480,837. The company’s 50-day moving average is $63.50 and its two-hundred day moving average is $64.35. Cryoport has a one year low of $43.51 and a one year high of $86.30. The company has a debt-to-equity ratio of 0.18, a current ratio of 9.99 and a quick ratio of 9.66.

Cryoport (NASDAQ:CYRX) last issued its quarterly earnings data on Thursday, November 4th. The consumer goods maker reported ($0.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.03). Cryoport had a positive return on equity of 2.67% and a negative net margin of 12.57%. The business had revenue of $56.69 million for the quarter, compared to analyst estimates of $54.44 million. During the same quarter in the prior year, the firm posted ($0.29) earnings per share. The business’s quarterly revenue was up 407.5% on a year-over-year basis. Analysts forecast that Cryoport will post -0.63 EPS 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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Analyst Recommendations for Cryoport (NASDAQ:CYRX)

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