CryoPort Inc (NASDAQ:CYRX) Receives Consensus Rating of “Buy” from Analysts

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CryoPort Inc (NASDAQ:CYRX) has been given a consensus recommendation of “Buy” by the six brokerages that are currently covering the stock, MarketBeat Ratings 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 objective among analysts that have issued a report on the stock in the last year is $24.00.

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

Several institutional investors have recently modified their holdings of CYRX. Royal Bank of Canada lifted its position in CryoPort by 44.5% during the 2nd quarter. Royal Bank of Canada now owns 138,389 shares of the consumer goods maker’s stock worth $2,536,000 after buying an additional 42,623 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in CryoPort during the 2nd quarter worth about $1,902,000. Price T Rowe Associates Inc. MD bought a new stake in CryoPort during the 2nd quarter worth about $12,830,000. Victory Capital Management Inc. lifted its position in CryoPort by 530.3% during the 2nd quarter. Victory Capital Management Inc. now owns 1,186,220 shares of the consumer goods maker’s stock worth $21,731,000 after buying an additional 998,020 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in CryoPort by 1.6% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 48,429 shares of the consumer goods maker’s stock worth $887,000 after buying an additional 783 shares in the last quarter. 53.30% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:CYRX traded up $0.78 during trading on Friday, reaching $24.53. The stock had a trading volume of 926,400 shares, compared to its average volume of 406,538. The company has a debt-to-equity ratio of 0.17, a current ratio of 17.73 and a quick ratio of 11.52. The stock has a market capitalization of $845.33 million, a PE ratio of -79.13 and a beta of 0.82. The business’s 50-day moving average price is $20.22 and its 200 day moving average price is $15.69. CryoPort has a 52 week low of $8.28 and a 52 week high of $25.02.

CryoPort (NASDAQ:CYRX) last issued its quarterly earnings results on Thursday, August 8th. The consumer goods maker reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). The business had revenue of $8.46 million during the quarter, compared to analyst estimates of $7.94 million. CryoPort had a negative net margin of 35.71% and a negative return on equity of 17.32%. CryoPort’s revenue for the quarter was up 82.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.09) earnings per share. Analysts forecast 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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