CryoPort Inc (NASDAQ:CYRX) Given Average Recommendation of “Buy” by Brokerages

Shares of CryoPort Inc (NASDAQ:CYRX) have earned a consensus rating of “Buy” from the six brokerages that are currently covering the company, MarketBeat reports. Five research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $24.00.

A number of research firms have recently weighed in on CYRX. Leerink Swann began coverage on CryoPort in a research note on Monday, July 15th. They issued a “buy” rating and a $24.00 price objective for the company. B. Riley set a $26.00 price objective on CryoPort and gave the stock a “buy” rating in a research note on Friday, July 19th. BidaskClub raised CryoPort from a “hold” rating to a “buy” rating in a research note on Thursday. Needham & Company LLC began coverage on CryoPort in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 price objective for the company. Finally, Svb Leerink reaffirmed an “outperform” rating on shares of CryoPort in a research note on Monday, July 15th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of CryoPort by 1.2% in the fourth quarter. BlackRock Inc. now owns 1,756,166 shares of the consumer goods maker’s stock valued at $19,371,000 after buying an additional 20,596 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of CryoPort by 11.6% in the fourth quarter. Bank of New York Mellon Corp now owns 88,849 shares of the consumer goods maker’s stock valued at $980,000 after buying an additional 9,239 shares in the last quarter. Northern Trust Corp grew its stake in shares of CryoPort by 0.3% in the fourth quarter. Northern Trust Corp now owns 338,111 shares of the consumer goods maker’s stock valued at $3,729,000 after buying an additional 1,028 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of CryoPort by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 302,544 shares of the consumer goods maker’s stock valued at $3,337,000 after buying an additional 14,530 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of CryoPort by 92.3% in the fourth quarter. Bank of America Corp DE now owns 16,037 shares of the consumer goods maker’s stock valued at $176,000 after buying an additional 7,697 shares in the last quarter. 53.30% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:CYRX traded up $1.10 during mid-day trading on Friday, hitting $24.85. 30,564 shares of the company traded hands, compared to its average volume of 405,037. The stock’s fifty day moving average price is $20.09 and its 200-day moving average price is $15.65. CryoPort has a one year low of $8.28 and a one year high of $24.67. The company has a quick ratio of 11.52, a current ratio of 17.73 and a debt-to-equity ratio of 0.17. The firm has a market cap of $858.14 million, a price-to-earnings ratio of -79.81 and a beta of 0.82.

CryoPort (NASDAQ:CYRX) last released its quarterly earnings data on Thursday, August 8th. The consumer goods maker reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). The firm had revenue of $8.46 million during the quarter, compared to analyst estimates of $7.94 million. CryoPort had a negative return on equity of 17.32% and a negative net margin of 35.71%. The business’s quarterly revenue was up 82.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.09) earnings per share. Equities analysts predict that CryoPort will post -0.3 EPS for the current year.

CryoPort Company Profile

CryoPort, Inc engages in the provision of logistics solutions to the life science industry. It also provides logistics solutions for biologic materials such as immunotherapies, stem cells, CAR-T cells, and reproductive cells for clients worldwide, including points-of-care, clinical research organizations central laboratories, biopharmaceuticals, contract manufacturing, health centers, and university researchers.

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