BioLife Solutions, Inc. (NASDAQ:BLFS) Receives $26.20 Average Price Target from Analysts

BioLife Solutions, Inc. (NASDAQ:BLFS) has earned an average recommendation of “Buy” from the five research firms that are covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $26.20.

BLFS has been the topic of a number of recent analyst reports. Craig Hallum lifted their price objective on shares of BioLife Solutions from $23.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, August 12th. TD Cowen lifted their price objective on shares of BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Northland Securities lifted their price objective on shares of BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, August 9th.

Insider Buying and Selling at BioLife Solutions

In other news, insider Sarah Aebersold sold 3,000 shares of BioLife Solutions stock in a transaction on Monday, July 1st. The shares were sold at an average price of $21.03, for a total transaction of $63,090.00. Following the transaction, the insider now owns 61,683 shares in the company, valued at $1,297,193.49. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On BioLife Solutions

Hedge funds have recently modified their holdings of the business. 1620 Investment Advisors Inc. acquired a new position in shares of BioLife Solutions during the second quarter worth $35,000. Isthmus Partners LLC raised its stake in BioLife Solutions by 34.4% during the second quarter. Isthmus Partners LLC now owns 165,247 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 42,265 shares during the last quarter. Register Financial Advisors LLC bought a new position in BioLife Solutions during the first quarter worth $96,000. Canada Pension Plan Investment Board bought a new position in BioLife Solutions during the second quarter worth $122,000. Finally, Arizona State Retirement System bought a new position in BioLife Solutions during the second quarter worth $217,000. Institutional investors and hedge funds own 93.24% of the company’s stock.

BioLife Solutions Stock Down 7.9 %

Shares of BLFS opened at $23.45 on Friday. BioLife Solutions has a 12 month low of $8.92 and a 12 month high of $26.73. The firm’s 50 day moving average is $23.80 and its 200-day moving average is $20.77. The stock has a market capitalization of $1.08 billion, a PE ratio of -16.89 and a beta of 1.87. 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 earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) EPS for the quarter, topping the consensus estimate 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 company had revenue of $28.33 million for the quarter, compared to analysts’ expectations of $23.80 million. Equities research analysts forecast that BioLife Solutions will post -0.36 EPS 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.