Cryoport (CYRX) to Release Quarterly Earnings on Thursday

Cryoport (NASDAQ:CYRX) is scheduled to be releasing its earnings data after the market closes on Thursday, November 7th. Analysts expect Cryoport to post earnings of ($0.29) per share for the quarter. Cryoport has set its FY 2024 guidance at EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Cryoport (NASDAQ:CYRX) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($1.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($1.25). Cryoport had a negative return on equity of 15.55% and a negative net margin of 76.48%. The company had revenue of $57.60 million during the quarter, compared to analysts’ expectations of $57.65 million. During the same period in the prior year, the business posted ($0.42) EPS. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, analysts expect Cryoport to post $-2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Cryoport Price Performance

CYRX stock opened at $6.81 on Thursday. Cryoport has a one year low of $5.32 and a one year high of $20.10. The firm has a 50-day moving average of $7.96 and a two-hundred day moving average of $9.71. The firm has a market capitalization of $335.44 million, a PE ratio of -2.76 and a beta of 1.60. The company has a current ratio of 8.38, a quick ratio of 7.99 and a debt-to-equity ratio of 0.97.

Cryoport announced that its board has initiated a share buyback plan on Tuesday, August 6th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 49.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CYRX. UBS Group lifted their price objective on shares of Cryoport from $7.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. B. Riley raised Cryoport from a “neutral” rating to a “buy” rating and dropped their price target for the company from $19.00 to $15.00 in a research report on Wednesday, July 31st. Jefferies Financial Group lowered Cryoport from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $20.00 to $8.00 in a research report on Wednesday, August 7th. Finally, Needham & Company LLC dropped their target price on Cryoport from $18.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.00.

Insider Activity at Cryoport

In other news, Director Ramkumar Mandalam sold 4,167 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $8.04, for a total transaction of $33,502.68. Following the completion of the sale, the director now directly owns 56,032 shares of the company’s stock, valued at $450,497.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders sold 7,167 shares of company stock valued at $60,363. Insiders own 10.10% 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.