Brokerages Set Cryoport, Inc. (NASDAQ:CYRX) Price Target at $11.83

Shares of Cryoport, Inc. (NASDAQ:CYRX - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the six ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $11.83.

CYRX has been the topic of a number of research reports. UBS Group raised their price target on Cryoport from $10.00 to $11.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. Guggenheim began coverage on Cryoport in a research report on Thursday, December 19th. They issued a "buy" rating and a $11.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $11.00 price target on shares of Cryoport in a research report on Thursday. Finally, Roth Mkm reissued a "buy" rating and issued a $15.00 price objective on shares of Cryoport in a report on Tuesday, April 1st.

Insider Transactions at Cryoport

In related news, CEO Jerrell Shelton sold 4,620 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $6.29, for a total value of $29,059.80. Following the completion of the sale, the chief executive officer now directly owns 765,399 shares of the company's stock, valued at approximately $4,814,359.71. This represents a 0.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 19,830 shares of company stock valued at $118,353 over the last quarter. 10.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cryoport

A number of hedge funds have recently modified their holdings of CYRX. Cadian Capital Management LP lifted its stake in shares of Cryoport by 14.1% during the 4th quarter. Cadian Capital Management LP now owns 4,927,027 shares of the company's stock valued at $38,332,000 after buying an additional 609,021 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Cryoport in the third quarter valued at about $3,405,000. Millennium Management LLC boosted its stake in shares of Cryoport by 11.0% in the fourth quarter. Millennium Management LLC now owns 4,139,869 shares of the company's stock worth $32,208,000 after acquiring an additional 409,353 shares during the period. LPL Financial LLC grew its position in shares of Cryoport by 1,366.1% during the fourth quarter. LPL Financial LLC now owns 436,766 shares of the company's stock worth $3,398,000 after purchasing an additional 406,976 shares in the last quarter. Finally, Norges Bank bought a new stake in Cryoport during the 4th quarter valued at approximately $2,711,000. 92.90% of the stock is currently owned by institutional investors.

Cryoport Stock Performance

NASDAQ:CYRX traded up $0.54 during mid-day trading on Monday, reaching $5.77. The company's stock had a trading volume of 401,449 shares, compared to its average volume of 542,501. The firm's fifty day moving average price is $6.12 and its two-hundred day moving average price is $7.10. The company has a current ratio of 5.70, a quick ratio of 5.32 and a debt-to-equity ratio of 0.48. The stock has a market cap of $287.98 million, a P/E ratio of -1.71 and a beta of 1.81. Cryoport has a 12-month low of $4.58 and a 12-month high of $17.95.

Cryoport (NASDAQ:CYRX - Get Free Report) last issued its quarterly earnings data on Tuesday, March 4th. The company reported ($0.42) earnings per share 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 for the quarter, compared to the consensus estimate of $58.71 million. During the same quarter last year, the company earned ($0.29) EPS. On average, equities analysts forecast that Cryoport will post -0.99 EPS for the current fiscal year.

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.