Research Analysts Offer Predictions for BioLife Solutions, Inc.’s FY2024 Earnings (NASDAQ:BLFS)

BioLife Solutions, Inc. (NASDAQ:BLFS) – Research analysts at HC Wainwright issued their FY2024 earnings per share estimates for shares of BioLife Solutions in a note issued to investors on Monday, September 30th. HC Wainwright analyst Y. Chen expects that the medical equipment provider will earn ($0.56) per share for the year. HC Wainwright currently has a “Buy” rating and a $29.00 price objective on the stock. The consensus estimate for BioLife Solutions’ current full-year earnings is ($0.36) per share. HC Wainwright also issued estimates for BioLife Solutions’ FY2025 earnings at ($0.37) EPS.

BioLife Solutions (NASDAQ:BLFS) last released its quarterly earnings data on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.08. The company had revenue of $28.33 million during the quarter, compared to analyst estimates of $23.80 million. BioLife Solutions had a negative net margin of 59.88% and a negative return on equity of 10.75%.

BLFS has been the topic of several other reports. Northland Securities upped their target price on BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. TD Cowen increased their price objective on shares of BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Craig Hallum lifted their target price on shares of BioLife Solutions from $23.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $26.67.

BioLife Solutions Stock Performance

Shares of BLFS opened at $24.14 on Wednesday. The company has a current ratio of 2.86, a quick ratio of 1.81 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.11 billion, a PE ratio of -17.00 and a beta of 1.87. BioLife Solutions has a 12 month low of $8.92 and a 12 month high of $26.73. The stock has a fifty day moving average price of $24.51 and a 200-day moving average price of $21.28.

Institutional Investors Weigh In On BioLife Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BLFS. Conestoga Capital Advisors LLC lifted its holdings in shares of BioLife Solutions by 1.0% in the 1st quarter. Conestoga Capital Advisors LLC now owns 65,477 shares of the medical equipment provider’s stock valued at $1,215,000 after buying an additional 630 shares during the period. Louisiana State Employees Retirement System raised its position in BioLife Solutions by 4.0% during the second quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the medical equipment provider’s stock valued at $392,000 after acquiring an additional 700 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in BioLife Solutions by 5.8% in the second quarter. The Manufacturers Life Insurance Company now owns 13,825 shares of the medical equipment provider’s stock valued at $296,000 after acquiring an additional 753 shares during the period. Sei Investments Co. boosted its position in BioLife Solutions by 1.4% in the 1st quarter. Sei Investments Co. now owns 60,191 shares of the medical equipment provider’s stock worth $1,117,000 after purchasing an additional 839 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of BioLife Solutions by 10.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,129 shares of the medical equipment provider’s stock worth $281,000 after purchasing an additional 1,374 shares during the period. 93.24% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at BioLife Solutions

In related news, CRO Garrie Richardson sold 3,070 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $25.12, for a total value of $77,118.40. Following the sale, the executive now owns 114,773 shares in the company, valued at $2,883,097.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other BioLife Solutions news, CRO Garrie Richardson sold 3,070 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $25.12, for a total transaction of $77,118.40. Following the completion of the transaction, the executive now directly owns 114,773 shares of the company’s stock, valued at approximately $2,883,097.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total transaction of $239,000.00. Following the sale, the executive vice president now owns 317,716 shares of the company’s stock, valued at $7,593,412.40. The disclosure for this sale can be found here. Insiders sold a total of 16,944 shares of company stock worth $405,619 over the last three months. 2.20% of the stock is currently owned by insiders.

About BioLife Solutions

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.