CryoPort (NASDAQ:CYRX) Receives Buy Rating from BTIG Research

Key Points

• BTIG Research reiterated its Buy rating on CryoPort and set a $25 price target, implying approximately 49% upside from the prior close.
• Analyst sentiment is broadly positive: seven analysts rate the stock Buy, one rates it Hold, and one rates it Sell, resulting in a consensus Moderate Buy rating and an average target of $18.
• CryoPort reported quarterly revenue of $48.97 million, above estimates, but missed the EPS forecast slightly and remained unprofitable. CEO Jerrell Shelton also sold 28,800 shares under a pre-arranged trading plan.

CryoPort (NASDAQ:CYRX - Get Free Report)'s stock had its "buy" rating reiterated by analysts at BTIG Research in a research report issued on Friday, Benzinga reports. They presently have a $25.00 target price on the stock. BTIG Research's price objective would indicate a potential upside of 48.99% from the stock's previous close.

Several other research firms have also weighed in on CYRX. Needham & Company LLC lifted their price objective on CryoPort from $15.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Guggenheim upped their target price on CryoPort from $12.00 to $16.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Craig Hallum raised their target price on CryoPort from $15.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, June 3rd. Roth Capital reiterated a "buy" rating and issued a $21.00 target price on shares of CryoPort in a report on Friday, August 7th. Finally, Jefferies Financial Group set a $13.50 price target on CryoPort in a research note on Monday, June 8th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $18.00.

CryoPort Price Performance

Shares of CYRX stock opened at $16.78 on Friday. The business's 50 day simple moving average is $15.77 and its 200 day simple moving average is $13.30. CryoPort has a one year low of $7.61 and a one year high of $17.20. The stock has a market capitalization of $849.91 million, a PE ratio of -18.64 and a beta of 1.89.

CryoPort (NASDAQ:CYRX - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The firm had revenue of $48.97 million for the quarter, compared to the consensus estimate of $48.18 million. CryoPort had a negative return on equity of 7.20% and a negative net margin of 20.05%. As a group, research analysts expect that CryoPort will post -0.83 earnings per share for the current year.

Insiders Place Their Bets

In other CryoPort news, CEO Jerrell Shelton sold 28,800 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $14.91, for a total value of $429,408.00. Following the transaction, the chief executive officer owned 1,201,814 shares in the company, valued at approximately $17,919,046.74. This represents a 2.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 9.50% of the company's stock.

Hedge Funds Weigh In On CryoPort

A number of large investors have recently modified their holdings of CYRX. Basepoint Wealth LLC bought a new stake in shares of CryoPort during the fourth quarter worth about $34,000. AXQ Capital LP bought a new position in CryoPort in the 4th quarter valued at about $125,000. Highland Investment Advisors LLC acquired a new position in CryoPort during the 2nd quarter valued at about $306,000. State of Wyoming boosted its stake in CryoPort by 9.4% during the 1st quarter. State of Wyoming now owns 42,520 shares of the company's stock valued at $352,000 after purchasing an additional 3,638 shares during the last quarter. Finally, Kerrisdale Advisers LLC bought a new stake in CryoPort during the 2nd quarter worth approximately $355,000. 92.90% of the stock is currently owned by institutional investors.

CryoPort Company Profile

Cryoport, Inc NASDAQ: CYRX provides temperature-controlled logistics and supply-chain solutions for the life sciences industry. The company supports the transportation, storage and management of sensitive biological materials, including cell and gene therapies, biologics, vaccines, clinical-trial materials and reproductive tissues.

Its offerings include specialized cryogenic and refrigerated shipping systems, monitoring and tracking technologies, logistics coordination, packaging and storage services, and related bioservices.

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