CryoPort (NASDAQ:CYRX) Price Target Raised to $12.00

CryoPort (NASDAQ:CYRX) had its target price increased by stock analysts at Needham & Company LLC from $11.00 to $12.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 30.15% from the stock’s current price.

A number of other analysts have also commented on the company. KeyCorp upgraded CryoPort from a “sector weight” rating to an “overweight” rating and set a $15.00 price target on the stock in a report on Wednesday, August 6th. Leerink Partners raised CryoPort from a “market perform” rating to an “outperform” rating and set a $16.00 target price for the company in a research report on Wednesday, August 6th. Stephens initiated coverage on CryoPort in a research report on Tuesday, July 22nd. They issued an “overweight” rating and a $13.00 target price for the company. BTIG Research raised their target price on CryoPort from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. Finally, Leerink Partnrs raised CryoPort from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $12.67.

CryoPort Stock Performance

Shares of CryoPort stock opened at $9.22 on Wednesday. The business’s fifty day simple moving average is $9.55 and its 200 day simple moving average is $7.92. The firm has a market capitalization of $461.62 million, a P/E ratio of 6.93 and a beta of 1.61. CryoPort has a 12 month low of $4.58 and a 12 month high of $11.44. The company has a current ratio of 16.24, a quick ratio of 15.47 and a debt-to-equity ratio of 0.39.

CryoPort (NASDAQ:CYRX) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.05. CryoPort had a negative return on equity of 9.79% and a net margin of 37.21%. As a group, analysts anticipate that CryoPort will post -0.99 EPS for the current year.

Insider Activity

In related news, CFO Robert Stefanovich sold 9,300 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $8.67, for a total transaction of $80,631.00. Following the completion of the transaction, the chief financial officer directly owned 207,213 shares in the company, valued at $1,796,536.71. The trade was a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert J. Hariri sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $9.71, for a total value of $242,750.00. Following the transaction, the director owned 51,275 shares of the company’s stock, valued at approximately $497,880.25. The trade was a 32.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 39,300 shares of company stock valued at $366,381. 10.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On CryoPort

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Thematics Asset Management boosted its holdings in shares of CryoPort by 12.8% in the 2nd quarter. Thematics Asset Management now owns 1,914,885 shares of the company’s stock worth $14,285,000 after purchasing an additional 216,937 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of CryoPort by 37.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,498,774 shares of the company’s stock worth $14,208,000 after purchasing an additional 408,263 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of CryoPort by 7.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,203,061 shares of the company’s stock worth $8,977,000 after purchasing an additional 87,418 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of CryoPort by 14.4% in the 2nd quarter. Acadian Asset Management LLC now owns 548,842 shares of the company’s stock worth $4,090,000 after purchasing an additional 69,147 shares in the last quarter. Finally, Kennedy Capital Management LLC purchased a new position in shares of CryoPort in the 2nd quarter worth about $4,084,000. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

About CryoPort

Cryoport, Inc provides temperature-controlled supply chain solutions in biopharma/pharma, animal health, and human reproductive medicine markets in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Cryoport Express Shippers; Cryoport ELITE -80°C Gene Therapy Shipper; Cryoport ELITE Cryosphere Shipper; Cryoport consulting services, including physical, thermal, and shipping qualifications of shipping systems and/or packaging to developing custom packaging solutions; and Cryoport bioservices, such as controlled temperature storage, fulfilment, kit production, secondary packaging, labelling of therapeutic products, and GMP raw materials storage services.