Analysts Set Cryoport, Inc. (NASDAQ:CYRX) Price Target at $12.00

Cryoport, Inc. (NASDAQ:CYRX - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the six research firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $12.50.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Comerica Bank increased its position in shares of Cryoport by 73.0% during the first quarter. Comerica Bank now owns 3,481 shares of the company's stock worth $62,000 after buying an additional 1,469 shares during the period. Quest Partners LLC grew its holdings in Cryoport by 1,083,000.0% during the 2nd quarter. Quest Partners LLC now owns 10,831 shares of the company's stock worth $75,000 after acquiring an additional 10,830 shares during the period. Hsbc Holdings PLC bought a new position in shares of Cryoport in the 2nd quarter worth about $92,000. 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, The Manufacturers Life Insurance Company boosted its position in shares of Cryoport by 9.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,683 shares of the company's stock valued at $122,000 after purchasing an additional 1,534 shares in the last quarter. Institutional investors and hedge funds own 92.90% of the company's stock.

Cryoport Price Performance

Shares of CYRX stock traded down $0.29 on Friday, reaching $7.73. The company had a trading volume of 659,377 shares, compared to its average volume of 569,058. The stock has a market capitalization of $381.94 million, a PE ratio of -2.11 and a beta of 1.63. The company has a quick ratio of 7.99, a current ratio of 8.38 and a debt-to-equity ratio of 0.97. The business's 50-day moving average is $7.73 and its 200 day moving average is $9.31. Cryoport has a one year low of $5.32 and a one year high of $20.10.

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

Cryoport announced that its board has authorized a share repurchase plan on Tuesday, August 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to reacquire up to 49.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

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.