Cryoport, Inc. (NASDAQ:CYRX) Receives Average Rating of “Hold” from Brokerages

Shares of Cryoport, Inc. (NASDAQ:CYRX) have been given an average recommendation of “Hold” by the five analysts that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $12.00.

Several equities research analysts have recently weighed in on the stock. Roth Mkm dropped their target price on shares of Cryoport from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Friday. Needham & Company LLC dropped their target price on shares of Cryoport from $18.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. B. Riley raised shares of Cryoport from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $19.00 to $15.00 in a research report on Wednesday, July 31st. UBS Group boosted their target price on shares of Cryoport from $7.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Jefferies Financial Group downgraded shares of Cryoport from a “buy” rating to a “hold” rating and dropped their target price for the stock from $20.00 to $8.00 in a research report on Wednesday, August 7th.

Institutional Investors Weigh In On Cryoport

Institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its position in Cryoport by 3.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 48,522 shares of the company’s stock worth $859,000 after purchasing an additional 1,438 shares during the last quarter. Comerica Bank grew its position in Cryoport by 73.0% in the 1st quarter. Comerica Bank now owns 3,481 shares of the company’s stock worth $62,000 after purchasing an additional 1,469 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Cryoport by 9.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,683 shares of the company’s stock worth $122,000 after purchasing an additional 1,534 shares during the last quarter. Rhumbline Advisers grew its position in Cryoport by 3.4% in the 2nd quarter. Rhumbline Advisers now owns 64,158 shares of the company’s stock worth $443,000 after purchasing an additional 2,086 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in Cryoport by 27.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 15,638 shares of the company’s stock worth $277,000 after purchasing an additional 3,400 shares during the last quarter. Institutional investors own 92.90% of the company’s stock.

Cryoport Stock Down 5.1 %

CYRX stock traded down $0.41 during trading on Friday, reaching $7.61. The stock had a trading volume of 270,096 shares, compared to its average volume of 567,157. Cryoport has a 1-year low of $5.32 and a 1-year high of $20.10. The company has a current ratio of 8.38, a quick ratio of 7.99 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $376.01 million, a P/E ratio of -2.03 and a beta of 1.63. The firm has a fifty day moving average price of $7.76 and a 200 day moving average price of $9.37.

Cryoport (NASDAQ:CYRX) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($1.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($1.25). Cryoport had a negative return on equity of 15.55% and a negative net margin of 76.48%. The firm had revenue of $57.60 million during the quarter, compared to analyst estimates of $57.65 million. During the same quarter in the prior year, the firm earned ($0.42) EPS. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, equities analysts anticipate that Cryoport will post -1.65 earnings per share for the current year.

Cryoport announced that its Board of Directors has authorized a share repurchase plan on Tuesday, August 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to buy up to 49.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

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.