Brokers Issue Forecasts for Cryoport, Inc.’s FY2022 Earnings (NASDAQ:CYRX)

Cryoport, Inc. (NASDAQ:CYRXGet Rating) – Equities research analysts at B. Riley lowered their FY2022 EPS estimates for shares of Cryoport in a report released on Wednesday, November 16th. B. Riley analyst Y. Zhi now expects that the consumer goods maker will post earnings per share of ($0.88) for the year, down from their prior forecast of ($0.84). B. Riley currently has a “Buy” rating and a $30.00 price target on the stock. The consensus estimate for Cryoport’s current full-year earnings is ($0.86) per share. B. Riley also issued estimates for Cryoport’s Q4 2022 earnings at ($0.19) EPS and FY2023 earnings at ($0.58) EPS.

Other equities analysts have also recently issued research reports about the company. Needham & Company LLC cut their price objective on Cryoport from $49.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, November 4th. KeyCorp lowered their price objective on shares of Cryoport from $52.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, November 4th. Finally, SVB Leerink reduced their target price on shares of Cryoport from $45.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 4th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $42.17.

Cryoport Stock Performance

CYRX stock opened at $18.55 on Friday. Cryoport has a 1-year low of $15.79 and a 1-year high of $75.00. The company has a current ratio of 14.96, a quick ratio of 14.35 and a debt-to-equity ratio of 0.75. The firm has a market cap of $908.95 million, a PE ratio of -3.02 and a beta of 1.29. The business’s 50-day moving average price is $24.94 and its two-hundred day moving average price is $29.10.

Institutional Investors Weigh In On Cryoport

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harbor Investment Advisory LLC grew its stake in shares of Cryoport by 69.7% in the second quarter. Harbor Investment Advisory LLC now owns 886 shares of the consumer goods maker’s stock valued at $27,000 after buying an additional 364 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in Cryoport by 6.4% in the 1st quarter. Teacher Retirement System of Texas now owns 7,691 shares of the consumer goods maker’s stock valued at $268,000 after purchasing an additional 461 shares during the last quarter. Principal Financial Group Inc. increased its position in Cryoport by 6.8% during the first quarter. Principal Financial Group Inc. now owns 7,365 shares of the consumer goods maker’s stock worth $257,000 after buying an additional 467 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Cryoport by 46.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,585 shares of the consumer goods maker’s stock worth $48,000 after acquiring an additional 505 shares during the period. Finally, Credit Suisse AG increased its holdings in shares of Cryoport by 1.1% during the 3rd quarter. Credit Suisse AG now owns 49,215 shares of the consumer goods maker’s stock worth $1,199,000 after acquiring an additional 524 shares during the last quarter. 90.33% of the stock is owned by institutional investors.

Cryoport Company Profile

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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.

See Also

Earnings History and Estimates for Cryoport (NASDAQ:CYRX)

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