BioLife Solutions, Inc. (NASDAQ:BLFS) Given Consensus Rating of “Buy” by Analysts

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) have been given an average rating of “Buy” by the five ratings firms that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have covered the stock in the last year is $26.20.

BLFS has been the subject of several research reports. TD Cowen upped their price objective on shares of BioLife Solutions from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Craig Hallum raised their price objective on shares of BioLife Solutions from $23.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Northland Securities raised their price objective on shares of BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, August 9th.

Insider Buying and Selling

In other BioLife Solutions news, insider Sarah Aebersold sold 3,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $21.03, for a total value of $63,090.00. Following the transaction, the insider now owns 61,683 shares in the company, valued at approximately $1,297,193.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BioLife Solutions

Institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its holdings in shares of BioLife Solutions by 1,038.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,401,899 shares of the medical equipment provider’s stock valued at $39,031,000 after purchasing an additional 2,191,002 shares during the period. Mutual of America Capital Management LLC purchased a new stake in shares of BioLife Solutions in the second quarter valued at $8,592,000. Vanguard Group Inc. lifted its position in shares of BioLife Solutions by 11.5% in the first quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider’s stock valued at $53,208,000 after acquiring an additional 296,727 shares in the last quarter. Granahan Investment Management LLC lifted its position in BioLife Solutions by 22.8% during the fourth quarter. Granahan Investment Management LLC now owns 1,292,675 shares of the medical equipment provider’s stock worth $21,006,000 after buying an additional 240,001 shares during the period. Finally, Raymond James & Associates purchased a new position in BioLife Solutions during the second quarter worth about $2,876,000. 93.24% of the stock is owned by institutional investors and hedge funds.

BioLife Solutions Stock Performance

NASDAQ BLFS opened at $25.12 on Friday. The company’s 50 day moving average is $23.70 and its 200-day moving average is $20.68. BioLife Solutions has a 12-month low of $8.92 and a 12-month high of $26.73. The company has a quick ratio of 1.81, a current ratio of 2.86 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.16 billion, a P/E ratio of -17.69 and a beta of 1.87.

BioLife Solutions (NASDAQ:BLFS) last released its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.08. BioLife Solutions had a negative net margin of 59.88% and a negative return on equity of 10.75%. The business had revenue of $28.33 million during the quarter, compared to analysts’ expectations of $23.80 million. Sell-side analysts predict that BioLife Solutions will post -0.36 earnings per share for the current year.

BioLife Solutions Company Profile

BioLife Solutions, Inc develops, manufactures, and markets bioproduction tools and services for the cell and gene therapy (CGT) industry in the United States, Europe, the Middle East, Africa, and internationally. The company's products are used in the basic and applied research, and commercial manufacturing of biologic-based therapies.