BidaskClub Upgrades CryoPort (CYRX) to “Strong-Buy”

BidaskClub upgraded shares of CryoPort (NASDAQ:CYRX) from a buy rating to a strong-buy rating in a research note released on Wednesday morning.

Several other research analysts have also issued reports on the stock. Roth Capital initiated coverage on shares of CryoPort in a research report on Thursday, November 30th. They issued a buy rating and a $12.50 price target for the company. Needham & Company LLC reissued a buy rating and issued a $11.00 price target (up previously from $10.00) on shares of CryoPort in a research report on Thursday, March 8th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $33.70.

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CYRX stock opened at $9.63 on Wednesday. CryoPort has a 52-week low of $1.96 and a 52-week high of $10.40. The stock has a market cap of $273.13, a PE ratio of -27.51 and a beta of 0.71.

CryoPort (NASDAQ:CYRX) last posted its quarterly earnings results on Tuesday, March 6th. The consumer goods maker reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.02). CryoPort had a negative return on equity of 47.36% and a negative net margin of 66.09%. The business had revenue of $3.33 million during the quarter, compared to analyst estimates of $3.37 million. CryoPort’s revenue was up 49.5% compared to the same quarter last year. equities research analysts anticipate that CryoPort will post -0.29 earnings per share for the current fiscal year.

In related news, CEO Jerrell Shelton sold 29,257 shares of the stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $9.83, for a total value of $287,596.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 9.00% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Pier Capital LLC bought a new stake in CryoPort during the fourth quarter worth about $2,916,000. Millennium Management LLC grew its stake in CryoPort by 71.5% during the fourth quarter. Millennium Management LLC now owns 142,331 shares of the consumer goods maker’s stock worth $1,223,000 after buying an additional 59,331 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in CryoPort during the fourth quarter worth about $155,000. BlueCrest Capital Management Ltd bought a new stake in CryoPort during the fourth quarter worth about $432,000. Finally, Allianz Asset Management GmbH grew its stake in CryoPort by 240.5% during the fourth quarter. Allianz Asset Management GmbH now owns 387,099 shares of the consumer goods maker’s stock worth $3,325,000 after buying an additional 273,426 shares during the last quarter. 23.71% of the stock is currently owned by hedge funds and other institutional investors.

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About CryoPort

Cryoport, Inc (Cryoport) is a provider of cryogenic logistics solutions to the life sciences industry through its purpose-built packaging, information technology and specialized cold chain logistics expertise. The Company provides logistics solutions for biologic materials, such as immunotherapies, stem cells, chimeric antigen receptors (CAR)-T cells, and reproductive cells for clients.

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