Brokerages Set BioLife Solutions, Inc. (NASDAQ:BLFS) PT at $26.67

BioLife Solutions, Inc. (NASDAQ:BLFS) has been assigned an average recommendation of “Buy” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $26.67.

Several equities research analysts recently issued reports on BLFS shares. Northland Securities boosted their price target on BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. HC Wainwright began coverage on BioLife Solutions in a research report on Monday, September 30th. They set a “buy” rating and a $29.00 target price for the company. TD Cowen raised their price target on BioLife Solutions from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Craig Hallum boosted their price target on BioLife Solutions from $23.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, August 12th.

BioLife Solutions Stock Up 1.8 %

Shares of BLFS opened at $22.60 on Thursday. The firm’s 50-day simple moving average is $24.57 and its 200 day simple moving average is $21.61. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.81 and a current ratio of 2.86. The firm has a market cap of $1.04 billion, a P/E ratio of -15.92 and a beta of 1.88. BioLife Solutions has a 52 week low of $8.92 and a 52 week high of $26.73.

BioLife Solutions (NASDAQ:BLFS) last announced its earnings results 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 for the quarter, compared to analyst estimates of $23.80 million. BioLife Solutions had a negative return on equity of 10.75% and a negative net margin of 59.88%. On average, analysts forecast that BioLife Solutions will post -0.36 earnings per share for the current year.

Insider Activity at BioLife Solutions

In other news, EVP Aby J. Mathew sold 10,000 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 317,716 shares in the company, valued at approximately $7,593,412.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CRO Garrie Richardson sold 3,070 shares of the business’s stock in a transaction on Monday, September 16th. The shares were 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 of the company’s stock, valued at $2,883,097.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Aby J. Mathew sold 10,000 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total value of $239,000.00. Following the completion of the sale, the executive vice president now owns 317,716 shares of the company’s stock, valued at $7,593,412.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,329 shares of company stock valued at $372,447 over the last ninety days. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BioLife Solutions

A number of institutional investors have recently made changes to their positions in the stock. 1620 Investment Advisors Inc. bought a new stake in BioLife Solutions in the second quarter valued at approximately $35,000. Isthmus Partners LLC boosted its stake in shares of BioLife Solutions by 34.4% in the 2nd quarter. Isthmus Partners LLC now owns 165,247 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 42,265 shares during the last quarter. GAMMA Investing LLC increased its position in shares of BioLife Solutions by 29.4% during the third quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock worth $83,000 after buying an additional 748 shares during the period. Register Financial Advisors LLC bought a new position in BioLife Solutions during the first quarter worth $96,000. Finally, Canada Pension Plan Investment Board acquired a new position in BioLife Solutions in the second quarter valued at $122,000. Institutional investors own 93.24% of the company’s stock.

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.