CryoPort (NASDAQ:CYRX) Upgraded by Leerink Partnrs to "Strong-Buy" Rating

Key Points

• CryoPort has been upgraded to a "strong-buy" rating by Leerink Partners, shifting its status from a previous "hold" rating.
• Despite the upgrade, analysts have mixed opinions; while Morgan Stanley reduced its price target to $7.00, KeyCorp has set a higher target of $15.00.
• CryoPort reported a quarterly revenue of $45.45 million but missed EPS estimates, indicating ongoing challenges despite strong earnings growth.

CryoPort (NASDAQ:CYRX - Get Free Report) was upgraded by stock analysts at Leerink Partnrs from a "hold" rating to a "strong-buy" rating in a research report issued on Wednesday,Zacks.com reports.

A number of other research analysts also recently issued reports on CYRX. Morgan Stanley cut their price objective on CryoPort from $8.00 to $7.00 and set an "equal weight" rating for the company in a research note on Monday, May 5th. KeyCorp upgraded CryoPort from a "sector weight" rating to an "overweight" rating and set a $15.00 price target for the company in a research note on Wednesday. Needham & Company LLC restated a "buy" rating and issued a $11.00 price target on shares of CryoPort in a research note on Thursday, May 8th. Stephens initiated coverage on CryoPort in a research note on Tuesday, July 22nd. They issued an "overweight" rating and a $13.00 price target for the company. Finally, Guggenheim restated a "buy" rating and issued a $10.00 price target on shares of CryoPort in a research note on Wednesday, April 16th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, CryoPort currently has a consensus rating of "Moderate Buy" and an average price target of $11.60.

CryoPort Trading Up 29.8%

Shares of NASDAQ:CYRX opened at $8.75 on Wednesday. The stock has a 50 day moving average of $7.12 and a 200 day moving average of $6.59. The company has a market cap of $438.73 million, a PE ratio of 6.58 and a beta of 1.88. The company has a current ratio of 5.56, a quick ratio of 5.24 and a debt-to-equity ratio of 0.51. CryoPort has a 12-month low of $4.58 and a 12-month high of $9.66.

CryoPort (NASDAQ:CYRX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.09). The company had revenue of $45.45 million for the quarter, compared to the consensus estimate of $41.74 million. CryoPort had a net margin of 37.21% and a negative return on equity of 10.48%. As a group, equities research analysts expect that CryoPort will post -0.99 EPS for the current year.

Insider Buying and Selling at CryoPort

In related news, insider Edward J. Zecchini sold 51,500 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $6.84, for a total transaction of $352,260.00. Following the sale, the insider owned 90,411 shares in the company, valued at approximately $618,411.24. This represents a 36.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ramkumar Mandalam sold 40,728 shares of the stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $7.24, for a total value of $294,870.72. Following the sale, the director owned 92,328 shares in the company, valued at $668,454.72. The trade was a 30.61% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 490,447 shares of company stock worth $3,337,198. Company insiders own 10.00% of the company's stock.

Institutional Trading of CryoPort

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. raised its holdings in CryoPort by 148.7% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,546 shares of the company's stock valued at $28,000 after buying an additional 2,120 shares during the period. Nisa Investment Advisors LLC increased its stake in CryoPort by 299.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,639 shares of the company's stock worth $27,000 after purchasing an additional 2,729 shares during the period. Lazard Asset Management LLC purchased a new stake in CryoPort in the fourth quarter worth $51,000. Quarry LP purchased a new stake in CryoPort in the fourth quarter worth $69,000. Finally, Avanza Fonder AB increased its stake in CryoPort by 31.4% in the second quarter. Avanza Fonder AB now owns 10,882 shares of the company's stock worth $81,000 after purchasing an additional 2,601 shares during the period. 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.

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