Cryoport (NASDAQ:CYRX) Price Target Cut to $67.00

Cryoport (NASDAQ:CYRXGet Rating) had its price target dropped by Roth Capital from $90.00 to $67.00 in a report issued on Tuesday, The Fly reports. Roth Capital’s target price indicates a potential upside of 185.84% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. SVB Leerink upped their price target on shares of Cryoport from $75.00 to $92.00 and gave the company an “outperform” rating in a report on Friday, February 25th. TheStreet downgraded shares of Cryoport from a “c-” rating to a “d+” rating in a report on Friday, January 28th. Zacks Investment Research downgraded shares of Cryoport from a “hold” rating to a “strong sell” rating in a report on Thursday, March 10th. B. Riley cut their price target on shares of Cryoport from $94.00 to $70.00 in a report on Wednesday, March 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $45.00 price objective on shares of Cryoport in a research report on Wednesday, April 13th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $71.86.

Cryoport stock opened at $23.44 on Tuesday. The company’s 50-day moving average price is $31.02 and its 200-day moving average price is $48.73. Cryoport has a twelve month low of $21.61 and a twelve month high of $86.30. The company has a quick ratio of 15.88, a current ratio of 16.26 and a debt-to-equity ratio of 0.64. The company has a market cap of $1.16 billion, a PE ratio of -3.95 and a beta of 1.30.

Cryoport (NASDAQ:CYRXGet Rating) last posted its earnings results on Thursday, February 24th. The consumer goods maker reported ($1.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($1.17). The business had revenue of $56.44 million during the quarter, compared to the consensus estimate of $57.61 million. Cryoport had a negative return on equity of 12.00% and a negative net margin of 123.77%. The business’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.28) earnings per share. As a group, sell-side analysts expect that Cryoport will post -0.56 earnings per share for the current fiscal year.

In other news, CEO Jerrell Shelton sold 3,298 shares of the company’s stock in a transaction that occurred on Wednesday, March 9th. The shares were sold at an average price of $31.05, for a total value of $102,402.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert Stefanovich sold 1,095 shares of the company’s stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of $31.05, for a total transaction of $33,999.75. The disclosure for this sale can be found here. Insiders sold a total of 5,803 shares of company stock valued at $180,183 in the last ninety days. Corporate insiders own 9.70% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. MML Investors Services LLC lifted its position in shares of Cryoport by 11.7% in the 3rd quarter. MML Investors Services LLC now owns 39,577 shares of the consumer goods maker’s stock worth $2,632,000 after purchasing an additional 4,141 shares during the period. Bamco Inc. NY lifted its position in Cryoport by 6.2% during the third quarter. Bamco Inc. NY now owns 557,094 shares of the consumer goods maker’s stock valued at $37,052,000 after acquiring an additional 32,403 shares during the last quarter. Man Group plc lifted its position in Cryoport by 14.9% during the third quarter. Man Group plc now owns 63,755 shares of the consumer goods maker’s stock valued at $4,240,000 after acquiring an additional 8,291 shares during the last quarter. Arizona State Retirement System lifted its position in Cryoport by 3.5% during the third quarter. Arizona State Retirement System now owns 9,955 shares of the consumer goods maker’s stock valued at $662,000 after acquiring an additional 332 shares during the last quarter. Finally, Howland Capital Management LLC purchased a new stake in Cryoport during the fourth quarter valued at approximately $296,000.

About Cryoport (Get Rating)

Cryoport, Inc, a life sciences services company, provides temperature-controlled logistics solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Cryoportal, a cloud-based logistics management platform that supports the management of shipments, which includes order entry, document preparation, customs documentation, courier management, real-time shipment tracking and monitoring, issue resolution, and regulatory compliance requirements; and CryoPort Express Shippers, which is used to ensure that the stability of shipped biologic commodities is maintained throughout the shipping cycle.

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