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

BioLife Solutions, Inc. (NASDAQ:BLFS) has received a consensus recommendation of “Buy” from the five ratings firms that are covering the company, MarketBeat reports. Five analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have covered the stock in the last year is $26.20.

Several research analysts have issued reports on BLFS shares. Northland Securities increased 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. Craig Hallum increased their price target on shares of BioLife Solutions from $23.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, TD Cowen increased their price target 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.

BioLife Solutions Trading Up 8.4 %

BLFS stock opened at $25.72 on Friday. The company has a quick ratio of 1.81, a current ratio of 2.86 and a debt-to-equity ratio of 0.04. BioLife Solutions has a twelve month low of $8.92 and a twelve month high of $26.73. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -18.11 and a beta of 1.87. The firm’s fifty day simple moving average is $24.07 and its two-hundred day simple moving average is $20.86.

BioLife Solutions (NASDAQ:BLFS) last posted its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.08. The firm had revenue of $28.33 million for 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, analysts anticipate that BioLife Solutions will post -0.36 earnings per share for the current year.

Insiders Place Their Bets

In other BioLife Solutions 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 sale, the insider now owns 61,683 shares of the company’s stock, valued at approximately $1,297,193.49. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Sarah Aebersold sold 3,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $21.03, for a total value of $63,090.00. Following the sale, the insider now directly owns 61,683 shares in the company, valued at approximately $1,297,193.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Garrie Richardson sold 3,070 shares of the business’s stock in a transaction dated 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 sale, the executive now owns 114,773 shares in the company, valued at $2,883,097.76. The disclosure for this sale can be found here. Insiders have sold a total of 9,944 shares of company stock valued at $229,709 in the last 90 days. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On BioLife Solutions

Several institutional investors have recently bought and sold shares of BLFS. Millrace Asset Group Inc. boosted its holdings in BioLife Solutions by 116.0% in the fourth quarter. Millrace Asset Group Inc. now owns 105,643 shares of the medical equipment provider’s stock valued at $1,717,000 after purchasing an additional 56,726 shares in the last quarter. Granahan Investment Management LLC boosted its holdings in BioLife Solutions by 22.8% in the fourth quarter. Granahan Investment Management LLC now owns 1,292,675 shares of the medical equipment provider’s stock valued at $21,006,000 after purchasing an additional 240,001 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in BioLife Solutions by 249.5% in the first quarter. BNP Paribas Financial Markets now owns 53,515 shares of the medical equipment provider’s stock valued at $993,000 after purchasing an additional 38,201 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in BioLife Solutions in the second quarter valued at approximately $466,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in BioLife Solutions by 161,879.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 131,203 shares of the medical equipment provider’s stock valued at $2,434,000 after purchasing an additional 131,122 shares in the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

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.