BioLife Solutions, Inc. (NASDAQ:BLFS) Given Average Rating of “Buy” by Brokerages

BioLife Solutions, Inc. (NASDAQ:BLFS) has received a consensus recommendation of “Buy” from the seven ratings firms that are covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy rating. The average 12 month price target among analysts that have covered the stock in the last year is $29.00.

A number of equities analysts recently commented on the company. TD Cowen increased their price objective on BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. KeyCorp increased their price target on shares of BioLife Solutions from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. HC Wainwright reduced their price objective on shares of BioLife Solutions from $29.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, November 18th. Craig Hallum increased their target price on shares of BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Benchmark reaffirmed a “buy” rating and issued a $30.00 price target on shares of BioLife Solutions in a research report on Thursday, December 19th.

Insiders Place Their Bets

In other BioLife Solutions news, EVP Aby J. Mathew sold 7,604 shares of BioLife Solutions stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $27.33, for a total value of $207,817.32. Following the transaction, the executive vice president now directly owns 276,315 shares of the company’s stock, valued at $7,551,688.95. The trade was a 2.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 64,259 shares of company stock valued at $1,424,708 in the last quarter. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On BioLife Solutions

Several hedge funds have recently modified their holdings of BLFS. Stifel Financial Corp increased its position 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 acquiring an additional 670 shares during the period. Louisiana State Employees Retirement System grew its position in BioLife Solutions by 4.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the medical equipment provider’s stock worth $392,000 after purchasing an additional 700 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of BioLife Solutions by 29.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock worth $83,000 after purchasing an additional 748 shares during the period. 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 valued at $296,000 after buying an additional 753 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in shares of BioLife Solutions in the third quarter valued at about $28,000. 93.24% of the stock is owned by institutional investors.

BioLife Solutions Stock Performance

Shares of BLFS stock opened at $26.27 on Tuesday. BioLife Solutions has a fifty-two week low of $14.50 and a fifty-two week high of $28.88. The stock’s 50-day moving average is $25.35 and its two-hundred day moving average is $23.99. 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 firm has a market cap of $1.22 billion, a P/E ratio of -24.78 and a beta of 1.91.

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.