CryoPort (NASDAQ:CYRX) Given New $15.00 Price Target at BTIG Research

Key Points

• BTIG Research has increased CryoPort's price target from $10.00 to $15.00, indicating a potential upside of 69.11% based on the stock's previous close, and maintains a "buy" rating.
• In the recent earnings report, CryoPort missed the consensus EPS estimate with a reported ($0.29) but exceeded revenue expectations with $45.45 million.
• CryoPort insiders, including CFO Robert Stefanovich and CEO Jerrell Shelton, have sold shares resulting in a decrease in their ownership, with insiders selling a total of 178,828 shares in the last 90 days.

CryoPort (NASDAQ:CYRX - Get Free Report) had its price objective boosted by research analysts at BTIG Research from $10.00 to $15.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. BTIG Research's target price suggests a potential upside of 69.11% from the stock's previous close.

CYRX has been the subject of several other reports. Leerink Partners upgraded 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. KeyCorp upgraded CryoPort from a "sector weight" rating to an "overweight" rating and set a $15.00 target price for the company in a research report on Wednesday, August 6th. Stephens assumed coverage on CryoPort in a research report on Tuesday, July 22nd. They set an "overweight" rating and a $13.00 price objective on the stock. Finally, Leerink Partnrs upgraded 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 and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $12.56.

CryoPort Stock Performance

NASDAQ:CYRX opened at $8.87 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 16.24 and a quick ratio of 15.47. The business has a fifty day simple moving average of $8.32 and a two-hundred day simple moving average of $6.97. CryoPort has a 1 year low of $4.58 and a 1 year high of $10.46. The company has a market capitalization of $444.12 million, a P/E ratio of 6.67 and a beta of 1.62.

CryoPort (NASDAQ:CYRX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.09). The company had revenue of $45.45 million during the quarter, compared to analysts' expectations of $41.74 million. CryoPort had a net margin of 37.21% and a negative return on equity of 9.79%. CryoPort has set its FY 2025 guidance at EPS. On average, analysts expect that CryoPort will post -0.99 earnings per share for the current year.

Insider Buying and Selling

In other CryoPort news, CFO Robert Stefanovich sold 9,300 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $8.67, for a total value of $80,631.00. Following the transaction, the chief financial officer directly owned 207,213 shares in the company, valued at approximately $1,796,536.71. This trade represents a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jerrell Shelton sold 69,135 shares of CryoPort stock in a transaction on Friday, June 20th. The shares were sold at an average price of $6.47, for a total value of $447,303.45. Following the transaction, the chief executive officer owned 912,419 shares in the company, valued at $5,903,350.93. This trade represents a 7.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 178,828 shares of company stock worth $1,317,324 in the last 90 days. Corporate insiders own 10.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC bought a new stake in shares of CryoPort in the fourth quarter worth about $51,000. ProShare Advisors LLC bought a new stake in shares of CryoPort in the fourth quarter worth about $95,000. Sherbrooke Park Advisers LLC bought a new stake in shares of CryoPort in the fourth quarter worth about $116,000. State of Wyoming raised its position in shares of CryoPort by 170.2% during the 4th quarter. State of Wyoming now owns 32,426 shares of the company's stock valued at $252,000 after buying an additional 20,427 shares in the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of CryoPort by 208.4% during the 4th quarter. Squarepoint Ops LLC now owns 36,499 shares of the company's stock valued at $284,000 after buying an additional 24,665 shares in the last quarter. Hedge funds and other institutional investors own 92.90% of the company's stock.

CryoPort Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.