Brokerages Set Cryoport, Inc. (NASDAQ:CYRX) Target Price at $18.25

Shares of Cryoport, Inc. (NASDAQ:CYRX) have received a consensus recommendation of “Hold” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $18.25.

A number of research analysts have recently issued reports on CYRX shares. Stephens reaffirmed an “equal weight” rating and issued a $17.00 price objective on shares of Cryoport in a research report on Wednesday, March 13th. B. Riley downgraded shares of Cryoport from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $22.00 to $19.00 in a research report on Friday, May 3rd. UBS Group lifted their price objective 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. Jefferies Financial Group assumed coverage on shares of Cryoport in a research report on Thursday, April 4th. They set a “buy” rating and a $21.00 target price on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $18.00 target price on shares of Cryoport in a research report on Wednesday, May 8th.

Cryoport Trading Down 3.0 %

NASDAQ CYRX opened at $9.50 on Friday. The company’s 50-day simple moving average is $13.52 and its two-hundred day simple moving average is $15.12. The company has a debt-to-equity ratio of 0.86, a quick ratio of 10.22 and a current ratio of 10.73. Cryoport has a one year low of $9.00 and a one year high of $21.93. The company has a market capitalization of $467.97 million, a price-to-earnings ratio of -3.85 and a beta of 1.64.

Cryoport (NASDAQ:CYRX) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06). Cryoport had a negative return on equity of 15.19% and a negative net margin of 50.17%. The firm had revenue of $54.59 million during the quarter, compared to analysts’ expectations of $58.78 million. During the same period in the previous year, the firm earned ($0.16) EPS. The firm’s quarterly revenue was down 13.1% on a year-over-year basis. Equities analysts forecast that Cryoport will post -1.35 EPS for the current fiscal year.

Insider Buying and Selling at Cryoport

In other Cryoport news, CEO Jerrell Shelton sold 2,631 shares of Cryoport stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $17.54, for a total transaction of $46,147.74. Following the completion of the sale, the chief executive officer now directly owns 692,182 shares in the company, valued at approximately $12,140,872.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Edward J. Zecchini sold 3,443 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $13.37, for a total value of $46,032.91. Following the completion of the transaction, the insider now directly owns 60,051 shares in the company, valued at approximately $802,881.87. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jerrell Shelton sold 2,631 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $17.54, for a total transaction of $46,147.74. Following the completion of the transaction, the chief executive officer now owns 692,182 shares of the company’s stock, valued at $12,140,872.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,625 shares of company stock worth $243,772. Company insiders own 10.10% of the company’s stock.

Hedge Funds Weigh In On Cryoport

Several large investors have recently made changes to their positions in the company. Comerica Bank lifted its stake in shares of Cryoport by 73.0% in the 1st quarter. Comerica Bank now owns 3,481 shares of the company’s stock valued at $62,000 after purchasing an additional 1,469 shares during the period. Silvercrest Asset Management Group LLC lifted its stake in shares of Cryoport by 4.5% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 417,031 shares of the company’s stock valued at $7,381,000 after purchasing an additional 18,088 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Cryoport by 3.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 48,522 shares of the company’s stock valued at $859,000 after purchasing an additional 1,438 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Cryoport by 294.3% in the 1st quarter. Lazard Asset Management LLC now owns 5,378 shares of the company’s stock valued at $95,000 after purchasing an additional 4,014 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Cryoport during the first quarter worth $7,800,000. 92.90% of the stock is currently owned by institutional investors and hedge funds.

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.