CryoPort (NASDAQ:CYRX) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of CryoPort (NASDAQ:CYRX) from a hold rating to a buy rating in a research note released on Thursday morning, BidAskClub reports.

Several other analysts have also recently weighed in on the company. Needham & Company LLC started coverage on CryoPort in a report on Monday, July 1st. They issued a buy rating and a $22.00 price target on the stock. B. Riley set a $26.00 price target on CryoPort and gave the company a buy rating in a report on Friday, July 19th. Leerink Swann started coverage on CryoPort in a report on Monday, July 15th. They issued a buy rating and a $24.00 price target on the stock. Finally, Svb Leerink reaffirmed an outperform rating on shares of CryoPort in a report on Monday, July 15th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. CryoPort currently has a consensus rating of Buy and an average price target of $24.00.

NASDAQ:CYRX opened at $24.53 on Thursday. The business’s 50-day moving average price is $20.22 and its two-hundred day moving average price is $15.69. CryoPort has a twelve month low of $8.28 and a twelve month high of $25.02. The stock has a market cap of $845.33 million, a P/E ratio of -79.13 and a beta of 0.82. The company has a quick ratio of 11.52, a current ratio of 17.73 and a debt-to-equity ratio of 0.17.

CryoPort (NASDAQ:CYRX) last released its quarterly earnings results on Thursday, August 8th. The consumer goods maker reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). CryoPort had a negative return on equity of 17.32% and a negative net margin of 35.71%. The firm had revenue of $8.46 million for the quarter, compared to analysts’ expectations of $7.94 million. During the same quarter last year, the firm posted ($0.09) EPS. The company’s revenue was up 82.7% compared to the same quarter last year. On average, equities research analysts expect that CryoPort will post -0.3 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA purchased a new position in shares of CryoPort in the first quarter worth $74,000. Metropolitan Life Insurance Co. NY boosted its stake in CryoPort by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,607 shares of the consumer goods maker’s stock valued at $95,000 after purchasing an additional 6,722 shares during the period. Bank of America Corp DE boosted its stake in CryoPort by 92.3% during the 4th quarter. Bank of America Corp DE now owns 16,037 shares of the consumer goods maker’s stock valued at $176,000 after purchasing an additional 7,697 shares during the period. Handelsinvest Investeringsforvaltning acquired a new position in CryoPort during the 2nd quarter valued at about $183,000. Finally, SG Americas Securities LLC acquired a new position in CryoPort during the 2nd quarter valued at about $249,000. 53.30% of the stock is currently owned by institutional investors.

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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