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

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) have received a consensus recommendation of “Buy” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $26.67.

BLFS has been the topic of a number of research reports. Northland Securities upped their price target on 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 increased their target price on BioLife Solutions from $23.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, August 12th. HC Wainwright initiated coverage on shares of BioLife Solutions in a research note on Monday, September 30th. They set a “buy” rating and a $29.00 price target for the company. Finally, TD Cowen raised 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.

BioLife Solutions Stock Performance

Shares of BLFS stock opened at $22.95 on Thursday. The firm has a 50 day moving average of $24.63 and a 200-day moving average of $21.71. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -16.16 and a beta of 1.88. 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 52 week low of $8.92 and a 52 week high of $26.73.

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. BioLife Solutions had a negative net margin of 59.88% and a negative return on equity of 10.75%. The business had revenue of $28.33 million during the quarter, compared to analysts’ expectations of $23.80 million. On average, equities analysts forecast that BioLife Solutions will post -0.36 earnings per share for the current year.

Insider Activity at BioLife Solutions

In other news, CRO Garrie Richardson sold 3,070 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $25.12, for a total value 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $23.90, for a total transaction of $239,000.00. Following the sale, the executive vice president now directly owns 317,716 shares in the company, valued at approximately $7,593,412.40. This trade represents a 0.00 % decrease in their ownership of the stock. 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 company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $25.12, for a total value of $77,118.40. Following the completion of the transaction, the executive now owns 114,773 shares of the company’s stock, valued at $2,883,097.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 15,089 shares of company stock valued at $367,047. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On BioLife Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in BLFS. Goldman Sachs Group Inc. raised its position in BioLife Solutions by 1,038.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,401,899 shares of the medical equipment provider’s stock worth $39,031,000 after acquiring an additional 2,191,002 shares during the period. Mutual of America Capital Management LLC purchased a new position in BioLife Solutions in the second quarter valued at approximately $8,592,000. Vanguard Group Inc. grew its holdings in BioLife Solutions by 11.5% during the first quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider’s stock valued at $53,208,000 after purchasing an additional 296,727 shares during the period. Granahan Investment Management LLC increased its position 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 worth $21,006,000 after buying an additional 240,001 shares during the last quarter. Finally, Raymond James & Associates bought a new stake in shares of BioLife Solutions in the second quarter valued at $2,876,000. 93.24% of the stock is owned by hedge funds and other institutional investors.

About BioLife Solutions

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.