Cryoport (NASDAQ:CYRX) Earns "Buy" Rating from Needham & Company LLC

Cryoport (NASDAQ:CYRX - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $11.00 target price on the stock. Needham & Company LLC's price target suggests a potential upside of 76.57% from the stock's previous close.

CYRX has been the subject of a number of other reports. Guggenheim initiated coverage on shares of Cryoport in a research note on Thursday, December 19th. They set a "buy" rating and a $11.00 price objective for the company. Roth Mkm cut their price objective on shares of Cryoport from $18.00 to $15.00 and set a "buy" rating for the company in a research report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $12.29.

Cryoport Stock Down 6.5 %

Shares of Cryoport stock traded down $0.43 during trading hours on Wednesday, reaching $6.23. 386,284 shares of the company's stock were exchanged, compared to its average volume of 315,400. The company has a 50 day moving average of $7.25 and a two-hundred day moving average of $7.58. Cryoport has a fifty-two week low of $4.58 and a fifty-two week high of $20.10. 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 $307.96 million, a P/E ratio of -1.84 and a beta of 1.67.

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Cryoport (NASDAQ:CYRX - Get Free Report) last posted its quarterly earnings data 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 return on equity of 13.35% and a negative net margin of 70.08%. The business had revenue of $59.53 million for the quarter, compared to analyst estimates of $58.71 million. During the same quarter in the prior year, the company earned ($0.29) earnings per share. On average, sell-side analysts forecast that Cryoport will post -0.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Cryoport

Several hedge funds and other institutional investors have recently bought and sold shares of CYRX. Cadian Capital Management LP increased its position in shares of Cryoport by 14.1% during the fourth quarter. Cadian Capital Management LP now owns 4,927,027 shares of the company's stock worth $38,332,000 after acquiring an additional 609,021 shares in the last quarter. Millennium Management LLC increased its position in shares of Cryoport by 11.0% during 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 in the last quarter. Fred Alger Management LLC increased its position in shares of Cryoport by 49.9% during the third quarter. Fred Alger Management LLC now owns 2,698,768 shares of the company's stock worth $21,887,000 after acquiring an additional 898,481 shares in the last quarter. Thematics Asset Management increased its position in shares of Cryoport by 176.2% during the third quarter. Thematics Asset Management now owns 1,705,000 shares of the company's stock worth $13,828,000 after acquiring an additional 1,087,800 shares in the last quarter. Finally, Deutsche Bank AG increased its position in shares of Cryoport by 0.9% during the fourth quarter. Deutsche Bank AG now owns 1,397,121 shares of the company's stock worth $10,870,000 after acquiring an additional 12,864 shares in the last quarter. 92.90% of the stock is owned by institutional investors.

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.