Needham & Company LLC Reaffirms Buy Rating for Cryoport (NASDAQ:CYRX)

Needham & Company LLC reaffirmed their buy rating on shares of Cryoport (NASDAQ:CYRX) in a report issued on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $11.00 price objective on the stock.

A number of other equities analysts also recently commented on the company. Guggenheim began coverage on Cryoport in a research note on Thursday, December 19th. They issued a “buy” rating and a $11.00 target price for the company. Roth Mkm decreased their price objective on Cryoport from $18.00 to $15.00 and set a “buy” rating for the company in a report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.29.

Cryoport Stock Up 30.6 %

NASDAQ:CYRX opened at $6.61 on Wednesday. The company has a market capitalization of $326.74 million, a price-to-earnings ratio of -1.96 and a beta of 1.59. Cryoport has a one year low of $4.58 and a one year high of $20.10. The stock has a 50-day simple moving average of $7.34 and a 200 day simple moving average of $7.62. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.32 and a current ratio of 5.70.

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

Institutional Investors Weigh In On Cryoport

Institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its position in shares of Cryoport by 0.4% during the 4th quarter. Franklin Resources Inc. now owns 387,131 shares of the company’s stock valued at $3,012,000 after acquiring an additional 1,512 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Cryoport by 2.9% in the fourth quarter. Rhumbline Advisers now owns 63,284 shares of the company’s stock valued at $492,000 after purchasing an additional 1,764 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its holdings 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 purchasing an additional 2,120 shares in the last quarter. Nebula Research & Development LLC lifted its holdings in shares of Cryoport by 21.6% in the fourth quarter. Nebula Research & Development LLC now owns 12,442 shares of the company’s stock valued at $97,000 after purchasing an additional 2,207 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Cryoport by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 387,714 shares of the company’s stock valued at $3,144,000 after purchasing an additional 2,226 shares in the last quarter. 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.