Cryoport (NASDAQ:CYRX) Price Target Lowered to $60.00 at BTIG Research

Cryoport (NASDAQ:CYRXGet Rating) had its price objective reduced by investment analysts at BTIG Research from $95.00 to $60.00 in a research report issued on Friday, The Fly reports. BTIG Research’s price objective suggests a potential upside of 143.51% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. B. Riley decreased their price target on Cryoport from $94.00 to $70.00 in a research report on Wednesday, March 2nd. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price target on shares of Cryoport in a research report on Wednesday, April 13th. TheStreet cut Cryoport from a “c-” rating to a “d+” rating in a research report on Friday, January 28th. Zacks Investment Research upgraded Cryoport from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Finally, Roth Capital decreased their price objective on shares of Cryoport from $90.00 to $67.00 in a research report on Tuesday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $61.14.

Shares of NASDAQ:CYRX traded up $0.47 during midday trading on Friday, reaching $24.64. The company had a trading volume of 6,131 shares, compared to its average volume of 502,217. The company’s 50 day moving average price is $30.50 and its 200 day moving average price is $48.08. The company has a current ratio of 16.26, a quick ratio of 15.88 and a debt-to-equity ratio of 0.64. The stock has a market cap of $1.22 billion, a P/E ratio of -4.16 and a beta of 1.30. Cryoport has a 52-week low of $21.61 and a 52-week high of $86.30.

Cryoport (NASDAQ:CYRXGet Rating) last issued its quarterly 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 company had revenue of $56.44 million during the quarter, compared to analysts’ expectations of $57.61 million. Cryoport had a negative return on equity of 12.00% and a negative net margin of 123.77%. Cryoport’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.28) earnings per share. Research analysts forecast that Cryoport will post -0.57 EPS for the current fiscal year.

In related news, insider Mark W. Sawicki sold 1,410 shares of the firm’s stock in a transaction on Wednesday, March 9th. The stock was sold at an average price of $31.05, for a total value of $43,780.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jerrell Shelton sold 3,298 shares of the firm’s stock in a transaction on Wednesday, March 9th. The shares were sold at an average price of $31.05, for a total value of $102,402.90. The disclosure for this sale can be found here. Insiders sold 5,803 shares of company stock valued at $180,183 in the last ninety days. 9.70% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the business. Captrust Financial Advisors increased its holdings in shares of Cryoport by 35.4% during the third quarter. Captrust Financial Advisors now owns 624 shares of the consumer goods maker’s stock valued at $42,000 after acquiring an additional 163 shares in the last quarter. Pinebridge Investments L.P. bought a new position in shares of Cryoport during the fourth quarter valued at $77,000. Lindbrook Capital LLC bought a new position in shares of Cryoport during the fourth quarter valued at $87,000. FinTrust Capital Advisors LLC increased its holdings in shares of Cryoport by 47.1% during the third quarter. FinTrust Capital Advisors LLC now owns 2,212 shares of the consumer goods maker’s stock valued at $147,000 after acquiring an additional 708 shares in the last quarter. Finally, Parallel Advisors LLC bought a new position in shares of Cryoport during the fourth quarter valued at $158,000.

Cryoport Company Profile (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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