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 report sent to investors on Thursday, BidAskClub reports.

Several other equities analysts have also issued reports on the stock. Needham & Company LLC initiated coverage on shares of CryoPort in a report on Monday, July 1st. They issued a buy rating and a $22.00 target price on the stock. Leerink Swann started coverage on shares of CryoPort in a research report on Monday, July 15th. They set a buy rating and a $24.00 target price for the company. B. Riley set a $26.00 price objective on shares of CryoPort and gave the stock a buy rating in a research report on Friday, July 19th. Finally, Svb Leerink reissued an outperform rating on shares of CryoPort in a research report on Monday, July 15th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $24.00.

NASDAQ:CYRX traded up $1.00 during mid-day trading on Thursday, hitting $24.75. The stock had a trading volume of 9,676 shares, compared to its average volume of 405,037. The company’s 50 day simple moving average is $20.09 and its 200 day simple moving average is $15.65. The company has a debt-to-equity ratio of 0.17, a quick ratio of 11.52 and a current ratio of 17.73. The stock has a market cap of $858.14 million, a price-to-earnings ratio of -79.48 and a beta of 0.82. CryoPort has a twelve month low of $8.28 and a twelve month high of $24.67.

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

Hedge funds and other institutional investors have recently bought and sold shares of the business. Atria Investments LLC purchased a new stake in CryoPort in the 2nd quarter worth approximately $404,000. BNP Paribas Arbitrage SA purchased a new stake in CryoPort in the 1st quarter worth approximately $74,000. Metropolitan Life Insurance Co. NY lifted its stake in CryoPort by 356.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,607 shares of the consumer goods maker’s stock worth $95,000 after purchasing an additional 6,722 shares in the last quarter. Handelsinvest Investeringsforvaltning purchased a new stake in CryoPort in the 2nd quarter worth approximately $183,000. Finally, SG Americas Securities LLC purchased a new stake in CryoPort in the 2nd quarter worth approximately $249,000. Institutional investors and hedge funds own 53.30% of the company’s stock.

About CryoPort

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.

Read More: Convertible Shares

Receive News & Ratings for CryoPort Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CryoPort and related companies with MarketBeat.com's FREE daily email newsletter.