Cryoport (NASDAQ:CYRX) Earns Buy Rating from Needham & Company LLC

Cryoport (NASDAQ:CYRX)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $11.00 price objective on the stock. Needham & Company LLC’s target price would suggest a potential upside of 65.17% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Guggenheim began coverage on Cryoport in a research note on Thursday, December 19th. They set a “buy” rating and a $11.00 price objective for the company. Roth Mkm decreased their price target on Cryoport from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $12.29.

Cryoport Stock Performance

Shares of Cryoport stock opened at $6.66 on Wednesday. The stock’s fifty day moving average is $7.31 and its two-hundred day moving average is $7.62. The company has a market capitalization of $329.21 million, a PE ratio of -1.97 and a beta of 1.59. The company has a quick ratio of 5.32, a current ratio of 5.70 and a debt-to-equity ratio of 0.48. Cryoport has a 52 week low of $4.58 and a 52 week high of $20.10.

Cryoport (NASDAQ:CYRX) last issued its earnings results on Tuesday, March 4th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.09). Cryoport had a negative return on equity of 13.35% and a negative net margin of 70.08%. The firm had revenue of $59.53 million during the quarter, compared to analysts’ expectations of $58.71 million. During the same quarter in the prior year, the company posted ($0.29) earnings per share. As a group, analysts expect that Cryoport will post -0.99 earnings per share for the current year.

Hedge Funds Weigh In On Cryoport

A number of hedge funds have recently bought and sold shares of CYRX. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Cryoport by 148.7% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,546 shares of the company’s stock valued at $28,000 after acquiring an additional 2,120 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Cryoport during the fourth quarter worth approximately $51,000. Avanza Fonder AB purchased a new position in Cryoport during the fourth quarter worth approximately $64,000. Quarry LP purchased a new position in Cryoport during the fourth quarter worth approximately $69,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Cryoport during the third quarter worth approximately $82,000. Hedge funds and other institutional investors own 92.90% of the company’s stock.

About Cryoport

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.