Analysts Set $8.88 Price Target for CryoPort, Inc. (CYRX)

Shares of CryoPort, Inc. (NASDAQ:CYRX) have earned a consensus broker rating score of 1.33 (Strong Buy) from the three brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a buy rating and two have given a strong buy rating to the company. CryoPort’s rating score has declined by 33% from 90 days ago as a result of various analysts’ upgrades and downgrades.

Analysts have set a 1 year consensus price objective of $8.88 for the company, according to Zacks. Zacks has also assigned CryoPort an industry rank of 70 out of 265 based on the ratings given to its competitors.

CYRX has been the subject of a number of research analyst reports. Janney Montgomery Scott lifted their price objective on shares of CryoPort from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $6.00 price objective on shares of CryoPort in a research report on Thursday, July 13th. ValuEngine raised shares of CryoPort from a “sell” rating to a “hold” rating in a research report on Thursday, May 11th. Finally, Cowen and Company lifted their price objective on shares of CryoPort from $5.50 to $7.50 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th.

CryoPort (NASDAQ CYRX) traded down 11.07% during midday trading on Friday, hitting $6.67. 592,762 shares of the stock traded hands. The stock’s market cap is $164.58 million. CryoPort has a 1-year low of $1.80 and a 1-year high of $8.23. The company has a 50-day moving average of $6.41 and a 200-day moving average of $4.09.

CryoPort (NASDAQ:CYRX) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.08) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.01. CryoPort had a negative net margin of 102.89% and a negative return on equity of 67.75%. The firm had revenue of $2.92 million during the quarter, compared to analysts’ expectations of $2.84 million. On average, equities analysts expect that CryoPort will post ($0.72) EPS for the current fiscal year.

Large investors have recently made changes to their positions in the stock. EAM Investors LLC acquired a new stake in shares of CryoPort during the second quarter worth about $552,000. Vanguard Group Inc. boosted its stake in shares of CryoPort by 96.9% in the second quarter. Vanguard Group Inc. now owns 519,100 shares of the company’s stock worth $2,554,000 after buying an additional 255,519 shares during the last quarter. Northern Trust Corp boosted its stake in shares of CryoPort by 105.0% in the second quarter. Northern Trust Corp now owns 22,179 shares of the company’s stock worth $109,000 after buying an additional 11,358 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of CryoPort by 16.6% in the second quarter. D.A. Davidson & CO. now owns 137,000 shares of the company’s stock worth $674,000 after buying an additional 19,500 shares during the last quarter. Finally, Taylor Wealth Management Partners acquired a new stake in shares of CryoPort during the second quarter worth about $1,851,000. 10.26% of the stock is owned by institutional investors.

CryoPort Company Profile

Cryoport, Inc (Cryoport) is a provider of cryogenic logistics solutions to the life sciences industry through its purpose-built packaging, information technology and specialized cold chain logistics expertise. The Company provides logistics solutions for biologic materials, such as immunotherapies, stem cells, chimeric antigen receptors (CAR)-T cells, and reproductive cells for clients.

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