BidaskClub Upgrades BioLife Solutions (NASDAQ:BLFS) to “Strong-Buy”

BioLife Solutions (NASDAQ:BLFS) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday, BidAskClub reports.

BLFS has been the topic of several other reports. Northland Securities reissued a “buy” rating and set a $28.00 price target on shares of BioLife Solutions in a research note on Friday, August 7th. HC Wainwright reaffirmed a “buy” rating and issued a $17.00 target price on shares of BioLife Solutions in a research note on Thursday, June 4th. Zacks Investment Research downgraded shares of BioLife Solutions from a “hold” rating to a “sell” rating in a research note on Wednesday, September 9th. ValuEngine raised shares of BioLife Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday, August 19th. Finally, Benchmark downgraded shares of BioLife Solutions from a “buy” rating to a “hold” rating and set a $21.00 target price on the stock. in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. BioLife Solutions currently has a consensus rating of “Buy” and an average target price of $22.94.

BLFS stock opened at $25.80 on Tuesday. The company has a market capitalization of $825.65 million, a PE ratio of -80.63, a price-to-earnings-growth ratio of 86.40 and a beta of 1.70. BioLife Solutions has a one year low of $7.37 and a one year high of $28.28. The company’s 50 day moving average price is $21.09 and its two-hundred day moving average price is $15.89.

BioLife Solutions (NASDAQ:BLFS) last posted its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported ($0.01) EPS for the quarter. The business had revenue of $9.92 million for the quarter, compared to analysts’ expectations of $9.68 million. BioLife Solutions had a return on equity of 1.49% and a net margin of 42.52%. As a group, equities analysts forecast that BioLife Solutions will post 0.03 EPS for the current fiscal year.

In other BioLife Solutions news, CEO Michael Rice sold 18,750 shares of the business’s stock in a transaction on Friday, June 19th. The shares were sold at an average price of $16.37, for a total transaction of $306,937.50. Following the transaction, the chief executive officer now directly owns 232,973 shares of the company’s stock, valued at approximately $3,813,768.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Walter Villiger sold 28,283 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $21.00, for a total transaction of $593,943.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 609,799 shares of company stock worth $10,605,400. Insiders own 22.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in BLFS. FMR LLC bought a new stake in shares of BioLife Solutions during the 1st quarter valued at $2,684,000. UBS Group AG boosted its holdings in shares of BioLife Solutions by 27.4% during the 1st quarter. UBS Group AG now owns 15,839 shares of the medical equipment provider’s stock valued at $151,000 after buying an additional 3,406 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of BioLife Solutions by 7.2% during the 1st quarter. BlackRock Inc. now owns 595,328 shares of the medical equipment provider’s stock valued at $5,656,000 after buying an additional 39,861 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of BioLife Solutions by 31.6% during the 1st quarter. Victory Capital Management Inc. now owns 6,128 shares of the medical equipment provider’s stock valued at $58,000 after buying an additional 1,470 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of BioLife Solutions by 144.1% during the 1st quarter. JPMorgan Chase & Co. now owns 43,185 shares of the medical equipment provider’s stock valued at $410,000 after buying an additional 25,494 shares in the last quarter. Hedge funds and other institutional investors own 46.90% of the company’s stock.

About BioLife Solutions

BioLife Solutions, Inc develops, manufactures, and markets grade cell and tissue hypothermic storage and cryopreservation freeze media products for cells, tissues, and organs in the United States. Its products are serum-free and protein-free solutions, which are formulated to reduce preservation-induced cell damage and death.

Featured Article: Is a Roth IRA right for you?

Analyst Recommendations for BioLife Solutions (NASDAQ:BLFS)

Receive News & Ratings for BioLife Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioLife Solutions and related companies with MarketBeat.com's FREE daily email newsletter.