BioLife Solutions, Inc. (NASDAQ:BLFS) Receives Average Rating of “Buy” from Analysts

BioLife Solutions, Inc. (NASDAQ:BLFS) has been given a consensus recommendation of “Buy” by the six ratings firms that are currently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $26.67.

Several brokerages recently weighed in on BLFS. Northland Securities upped their target price 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. HC Wainwright assumed coverage on BioLife Solutions in a research note on Monday, September 30th. They issued a “buy” rating and a $29.00 price objective for the company. Craig Hallum lifted their target price on BioLife Solutions from $23.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, TD Cowen upped their price target on BioLife Solutions from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th.

BioLife Solutions Trading Down 0.0 %

BioLife Solutions stock opened at $26.13 on Monday. BioLife Solutions has a 12-month low of $9.92 and a 12-month high of $27.36. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -15.46 and a beta of 1.88. The firm has a 50 day moving average of $24.07 and a 200 day moving average of $22.51. The company has a current ratio of 2.86, a quick ratio of 1.81 and a debt-to-equity ratio of 0.04.

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

Insider Buying and Selling

In related news, EVP Aby J. Mathew sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $23.28, for a total value of $232,800.00. Following the completion of the transaction, the executive vice president now directly owns 317,716 shares of the company’s stock, valued at approximately $7,396,428.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other BioLife Solutions 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 transaction of $77,118.40. Following the sale, the executive now directly owns 114,773 shares in the company, valued at $2,883,097.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $23.28, for a total value of $232,800.00. Following the completion of the transaction, the executive vice president now owns 317,716 shares of the company’s stock, valued at approximately $7,396,428.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,044 shares of company stock worth $645,105. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of BioLife Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLFS. Quest Partners LLC purchased a new position in BioLife Solutions during the 3rd quarter valued at $57,000. Curi RMB Capital LLC boosted its stake in shares of BioLife Solutions by 0.5% during the third quarter. Curi RMB Capital LLC now owns 421,933 shares of the medical equipment provider’s stock valued at $10,565,000 after purchasing an additional 2,283 shares during the period. Summit Global Investments bought a new position in shares of BioLife Solutions in the third quarter worth about $228,000. Principal Financial Group Inc. increased its stake in BioLife Solutions by 4.7% in the 3rd quarter. Principal Financial Group Inc. now owns 190,715 shares of the medical equipment provider’s stock worth $4,776,000 after buying an additional 8,580 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in BioLife Solutions by 31.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 52,449 shares of the medical equipment provider’s stock valued at $1,313,000 after buying an additional 12,421 shares in the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

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.