Cryoport (NASDAQ:CYRX) Earns Buy Rating from Analysts at Jefferies Financial Group

Analysts at Jefferies Financial Group started coverage on shares of Cryoport (NASDAQ:CYRXGet Free Report) in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm set a “buy” rating and a $21.00 price target on the stock. Jefferies Financial Group’s price objective points to a potential upside of 5.11% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC dropped their price objective on Cryoport from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. UBS Group lifted their price objective on shares of Cryoport from $14.50 to $17.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $17.00 target price on shares of Cryoport in a report on Wednesday, March 13th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $18.63.

View Our Latest Stock Report on CYRX

Cryoport Stock Up 8.9 %

Shares of CYRX traded up $1.64 during mid-day trading on Thursday, hitting $19.98. 94,907 shares of the company’s stock were exchanged, compared to its average volume of 456,292. The company has a 50-day simple moving average of $16.28 and a 200 day simple moving average of $14.51. The company has a debt-to-equity ratio of 0.82, a current ratio of 11.73 and a quick ratio of 11.16. The company has a market cap of $978.62 million, a PE ratio of -8.92 and a beta of 1.60. Cryoport has a 52 week low of $9.00 and a 52 week high of $24.17.

Cryoport (NASDAQ:CYRXGet Free Report) last issued its quarterly earnings results on Tuesday, March 12th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.19). The business had revenue of $57.26 million for the quarter, compared to the consensus estimate of $58.27 million. Cryoport had a negative return on equity of 11.86% and a negative net margin of 42.69%. On average, research analysts forecast that Cryoport will post -1.25 earnings per share for the current fiscal year.

Insider Transactions at Cryoport

In other news, Director Ramkumar Mandalam sold 3,217 shares of Cryoport stock in a transaction on Friday, March 15th. The stock was sold at an average price of $14.68, for a total transaction of $47,225.56. Following the completion of the sale, the director now owns 43,187 shares of the company’s stock, valued at $633,985.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Jerrell Shelton sold 57,039 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $15.30, for a total value of $872,696.70. Following the completion of the transaction, the chief executive officer now owns 634,352 shares of the company’s stock, valued at $9,705,585.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ramkumar Mandalam sold 3,217 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $14.68, for a total transaction of $47,225.56. Following the sale, the director now directly owns 43,187 shares of the company’s stock, valued at approximately $633,985.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,940 shares of company stock worth $1,147,538. Company insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On Cryoport

Several hedge funds and other institutional investors have recently modified their holdings of the business. Nordea Investment Management AB bought a new position in Cryoport in the 3rd quarter valued at approximately $1,153,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Cryoport by 285.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 77,409 shares of the company’s stock valued at $1,061,000 after acquiring an additional 57,348 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Cryoport during the third quarter worth $3,250,000. WCM Investment Management LLC grew its stake in shares of Cryoport by 2.0% in the third quarter. WCM Investment Management LLC now owns 299,984 shares of the company’s stock worth $4,113,000 after purchasing an additional 5,839 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Cryoport by 28.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,356,500 shares of the company’s stock valued at $18,598,000 after purchasing an additional 298,995 shares during the period. Institutional investors own 92.90% of the company’s stock.

About Cryoport

(Get Free Report)

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.

Featured Articles

Analyst Recommendations for Cryoport (NASDAQ:CYRX)

Receive News & Ratings for Cryoport Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cryoport and related companies with MarketBeat.com's FREE daily email newsletter.