TD Cowen Issues Positive Forecast for BioLife Solutions (NASDAQ:BLFS) Stock Price

BioLife Solutions (NASDAQ:BLFS) had its price objective upped by TD Cowen from $28.00 to $31.00 in a report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the medical equipment provider’s stock.

A number of other analysts have also issued reports on the stock. Northland Securities lifted their price target on shares of BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Craig Hallum boosted their target price on shares of BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, HC Wainwright began coverage on shares of BioLife Solutions in a research note on Monday, September 30th. They issued a “buy” rating and a $29.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.83.

BioLife Solutions Price Performance

Shares of NASDAQ BLFS opened at $21.02 on Wednesday. The company has a quick ratio of 1.81, a current ratio of 2.78 and a debt-to-equity ratio of 0.03. BioLife Solutions has a fifty-two week low of $11.40 and a fifty-two week high of $28.88. The business has a 50 day moving average price of $24.00 and a two-hundred day moving average price of $22.78. The firm has a market cap of $975.05 million, a PE ratio of -19.83 and a beta of 1.88.

Insider Transactions at BioLife Solutions

In related news, CRO Garrie Richardson sold 3,070 shares of the company’s stock in a transaction 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 completion of the transaction, the executive now directly owns 114,773 shares in the company, valued at $2,883,097.76. This represents a 2.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Aby J. Mathew sold 10,000 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 317,716 shares in the company, valued at $7,396,428.48. This represents a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,471 shares of company stock worth $656,330. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BioLife Solutions

Institutional investors have recently modified their holdings of the company. Mutual of America Capital Management LLC bought a new position in BioLife Solutions in the 2nd quarter worth approximately $8,592,000. Vanguard Group Inc. grew its stake 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 worth $53,208,000 after purchasing an additional 296,727 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of BioLife Solutions by 81.3% in the third quarter. Rockefeller Capital Management L.P. now owns 585,497 shares of the medical equipment provider’s stock worth $14,661,000 after purchasing an additional 262,504 shares in the last quarter. Raymond James & Associates acquired a new position in shares of BioLife Solutions during the second quarter valued at $2,876,000. Finally, State Street Corp raised its stake in shares of BioLife Solutions by 7.3% during the third quarter. State Street Corp now owns 1,412,316 shares of the medical equipment provider’s stock valued at $35,364,000 after purchasing an additional 95,788 shares in the last quarter. 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.