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 issued to investors on Thursday, BidAskClub reports.

A number of other research firms have also commented on CYRX. Leerink Swann assumed coverage on CryoPort in a research 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 research report on Monday, July 15th. Needham & Company LLC assumed coverage on CryoPort in a research report on Monday, July 1st. They issued a buy rating and a $22.00 price target for the company. Finally, B. Riley set a $26.00 price target on CryoPort and gave the company a buy rating in a research report on Friday, July 19th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $24.00.

Shares of NASDAQ:CYRX opened at $24.53 on Thursday. The firm has a market capitalization of $845.33 million, a price-to-earnings ratio of -79.13 and a beta of 0.82. The stock’s 50 day moving average is $20.22 and its 200-day moving average is $15.69. CryoPort has a twelve month low of $8.28 and a twelve month high of $25.02. 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) EPS 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 return on equity of 17.32% and a negative net margin of 35.71%. CryoPort’s quarterly revenue was up 82.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.09) EPS. Equities research analysts anticipate that CryoPort will post -0.3 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of CryoPort by 7.1% during the 2nd quarter. BlackRock Inc. now owns 2,048,518 shares of the consumer goods maker’s stock valued at $37,529,000 after purchasing an additional 135,471 shares during the last quarter. Vanguard Group Inc. increased its position in shares of CryoPort by 13.6% during the 2nd quarter. Vanguard Group Inc. now owns 1,704,620 shares of the consumer goods maker’s stock valued at $31,228,000 after purchasing an additional 203,846 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of 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 valued at $21,731,000 after purchasing an additional 998,020 shares during the last quarter. Invesco Ltd. increased its position in shares of CryoPort by 331.6% during the 2nd quarter. Invesco Ltd. now owns 973,538 shares of the consumer goods maker’s stock valued at $17,835,000 after purchasing an additional 747,970 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of CryoPort during the 2nd quarter valued at $12,830,000. 53.30% of the stock is owned by institutional investors and hedge funds.

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.

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