CryoPort, Inc. (CYRX) Given Consensus Recommendation of “Strong Buy” by Analysts
Shares of CryoPort, Inc. (NASDAQ:CYRX) have earned an average broker rating score of 1.33 (Strong Buy) from the three analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a buy rating and two have issued a strong buy rating on the company. CryoPort’s rating score has improved by 11.3% in the last three months as a result of various analysts’ ratings changes.
Brokers have set a one year consensus price target of $9.25 for the company, according to Zacks. Zacks has also assigned CryoPort an industry rank of 68 out of 265 based on the ratings given to its competitors.
A number of research firms have weighed in on CYRX. Janney Montgomery Scott set a $8.00 target price on shares of CryoPort and gave the company a “buy” rating in a research note on Wednesday, July 26th. Cowen and Company upped their price target on shares of CryoPort from $5.50 to $7.50 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. Finally, Needham & Company LLC upped their price target on shares of CryoPort from $8.50 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, August 30th.
Hedge funds have recently made changes to their positions in the stock. Taylor Wealth Management Partners purchased a new stake in shares of CryoPort during the 2nd quarter valued at approximately $1,851,000. BerganKDV Wealth Management LLC lifted its stake in shares of CryoPort by 157.5% during the 2nd quarter. BerganKDV Wealth Management LLC now owns 25,750 shares of the company’s stock valued at $127,000 after buying an additional 15,750 shares in the last quarter. EAM Investors LLC purchased a new stake in shares of CryoPort during the 2nd quarter valued at approximately $552,000. Vanguard Group Inc. increased its holdings in CryoPort by 96.9% during the 2nd quarter. Vanguard Group Inc. now owns 519,100 shares of the company’s stock worth $2,554,000 after acquiring an additional 255,519 shares during the period. Finally, Northern Trust Corp increased its holdings in CryoPort by 105.0% during the 2nd quarter. Northern Trust Corp now owns 22,179 shares of the company’s stock worth $109,000 after acquiring an additional 11,358 shares during the period. Institutional investors own 12.05% of the company’s stock.
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CryoPort (CYRX) opened at 9.03 on Friday. CryoPort has a 12-month low of $1.80 and a 12-month high of $9.24. The company’s market capitalization is $222.81 million. The firm has a 50-day moving average of $7.17 and a 200 day moving average of $4.44.
CryoPort (NASDAQ:CYRX) last released its earnings results on Tuesday, August 8th. The company reported ($0.08) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.01. The firm had revenue of $2.92 million for the quarter, compared to analysts’ expectations of $2.84 million. CryoPort had a negative net margin of 102.89% and a negative return on equity of 67.75%. Analysts forecast that CryoPort will post ($0.72) EPS for the current fiscal year.
Cryoport, Inc (Cryoport) is a provider of cryogenic logistics solutions to the life sciences industry through its purpose-built packaging, information technology and specialized cold chain logistics expertise. The Company provides logistics solutions for biologic materials, such as immunotherapies, stem cells, chimeric antigen receptors (CAR)-T cells, and reproductive cells for clients.
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