Cryoport (NASDAQ:CYRX - Get Free Report) is set to post its quarterly earnings results after the market closes on Thursday, November 7th. Analysts expect Cryoport to post earnings of ($0.29) per share for the quarter. Cryoport has set its FY 2024 guidance at EPS.Individual interested in participating in the company's earnings conference call can do so using this link.
Cryoport (NASDAQ:CYRX - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported ($1.62) EPS for the quarter, missing analysts' consensus estimates of ($0.37) by ($1.25). Cryoport had a negative net margin of 76.48% and a negative return on equity of 15.55%. The business had revenue of $57.60 million for the quarter, compared to the consensus estimate of $57.65 million. During the same quarter last year, the firm posted ($0.42) EPS. The business's quarterly revenue was up 1.0% on a year-over-year basis. On average, analysts expect Cryoport to post $-2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.
Cryoport Stock Down 2.2 %
Shares of CYRX traded down $0.15 during mid-day trading on Thursday, reaching $6.66. The company had a trading volume of 239,116 shares, compared to its average volume of 571,732. The company has a debt-to-equity ratio of 0.97, a quick ratio of 7.99 and a current ratio of 8.38. The company has a market capitalization of $328.05 million, a price-to-earnings ratio of -2.73 and a beta of 1.60. The firm has a 50-day moving average price of $7.91 and a 200 day moving average price of $9.69. Cryoport has a 52 week low of $5.32 and a 52 week high of $20.10.
Cryoport announced that its Board of Directors has approved a stock buyback plan on Tuesday, August 6th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 49.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Several research firms recently commented on CYRX. Needham & Company LLC reduced their price objective on Cryoport from $18.00 to $11.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. B. Riley upgraded Cryoport from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $19.00 to $15.00 in a research note on Wednesday, July 31st. Jefferies Financial Group cut shares of Cryoport from a "buy" rating to a "hold" rating and decreased their target price for the stock from $20.00 to $8.00 in a research note on Wednesday, August 7th. Finally, UBS Group upped their price target on shares of Cryoport from $7.00 to $9.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $12.00.
View Our Latest Report on CYRX
Insider Activity
In related news, Director Ramkumar Mandalam sold 4,167 shares of the firm's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $8.04, for a total transaction of $33,502.68. Following the completion of the transaction, the director now directly owns 56,032 shares of the company's stock, valued at approximately $450,497.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 7,167 shares of company stock worth $60,363 over the last quarter. Insiders own 10.10% 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.
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