Benchmark Reiterates “Buy” Rating for BioLife Solutions (NASDAQ:BLFS)

BioLife Solutions (NASDAQ:BLFS)‘s stock had its “buy” rating reissued by research analysts at Benchmark in a research report issued on Thursday,Benzinga reports. They currently have a $30.00 target price on the medical equipment provider’s stock. Benchmark’s price objective points to a potential upside of 18.34% from the stock’s current price.

A number of other research firms have also recently weighed in on BLFS. TD Cowen increased their price objective on shares of BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Craig Hallum raised their price target on shares of BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. KeyCorp lifted their price target on BioLife Solutions from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, HC Wainwright decreased their price objective on BioLife Solutions from $29.00 to $27.00 and set a “buy” rating for the company in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, BioLife Solutions has an average rating of “Moderate Buy” and a consensus price target of $29.00.

BioLife Solutions Price Performance

Shares of BLFS opened at $25.35 on Thursday. BioLife Solutions has a 12 month low of $14.50 and a 12 month high of $28.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78. The stock has a fifty day moving average price of $24.75 and a 200 day moving average price of $23.65. The company has a market cap of $1.18 billion, a P/E ratio of -23.92 and a beta of 1.91.

Insider Transactions at BioLife Solutions

In other BioLife Solutions news, EVP Aby J. Mathew sold 25,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $21.17, for a total value of $529,250.00. Following the sale, the executive vice president now directly owns 302,046 shares in the company, valued at approximately $6,394,313.82. The trade was a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 56,655 shares of company stock valued at $1,216,890. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On BioLife Solutions

Hedge funds have recently made changes to their positions in the business. Stifel Financial Corp boosted its holdings in BioLife Solutions by 5.4% during the third quarter. Stifel Financial Corp now owns 12,988 shares of the medical equipment provider’s stock worth $325,000 after buying an additional 670 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of BioLife Solutions by 4.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the medical equipment provider’s stock worth $392,000 after acquiring an additional 700 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of BioLife Solutions by 29.4% in the 3rd quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock worth $83,000 after acquiring an additional 748 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of BioLife Solutions by 5.8% during the second quarter. The Manufacturers Life Insurance Company now owns 13,825 shares of the medical equipment provider’s stock worth $296,000 after purchasing an additional 753 shares during the period. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in shares of BioLife Solutions during the third quarter valued at $28,000. Institutional investors and hedge funds 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.