BioLife Solutions (NASDAQ:BLFS) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright assumed coverage on shares of BioLife Solutions (NASDAQ:BLFS) in a research report report published on Monday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $29.00 price target on the medical equipment provider’s stock.

Other research analysts also recently issued reports about the company. TD Cowen raised their price target on BioLife Solutions from $20.00 to $26.00 and gave the company a buy rating in a research note on Wednesday, July 17th. Northland Securities upped their price objective on BioLife Solutions from $26.00 to $28.00 and gave the company an outperform rating in a research note on Friday, August 9th. Finally, Craig Hallum increased their target price 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. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat, BioLife Solutions has a consensus rating of Moderate Buy and an average target price of $26.67.

BioLife Solutions Stock Performance

BLFS opened at $25.04 on Monday. The company has a market cap of $1.15 billion, a PE ratio of -17.63 and a beta of 1.87. The stock has a 50-day moving average of $24.51 and a 200-day moving average of $21.28. BioLife Solutions has a 52-week low of $8.92 and a 52-week high of $26.73. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.81 and a current ratio of 2.86.

BioLife Solutions (NASDAQ:BLFS) last announced its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.08. BioLife Solutions had a negative return on equity of 10.75% and a negative net margin of 59.88%. The firm had revenue of $28.33 million during the quarter, compared to the consensus estimate of $23.80 million. As a group, equities research analysts forecast that BioLife Solutions will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Aby J. Mathew sold 10,000 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 317,716 shares of the company’s stock, valued at approximately $7,593,412.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other BioLife Solutions news, CRO Garrie Richardson sold 3,070 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was 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 in the company, valued at approximately $2,883,097.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total value of $239,000.00. Following the sale, the executive vice president now owns 317,716 shares of the company’s stock, valued at approximately $7,593,412.40. The disclosure for this sale can be found here. Insiders have sold a total of 16,944 shares of company stock worth $405,619 in the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of BioLife Solutions

A number of hedge funds have recently bought and sold shares of the company. 1620 Investment Advisors Inc. purchased a new position in BioLife Solutions in the 2nd quarter worth approximately $35,000. Isthmus Partners LLC increased its stake in shares of BioLife Solutions by 34.4% during the second quarter. Isthmus Partners LLC now owns 165,247 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 42,265 shares during the period. Register Financial Advisors LLC purchased a new position in shares of BioLife Solutions during the first quarter valued at approximately $96,000. Canada Pension Plan Investment Board bought a new stake in shares of BioLife Solutions during the second quarter valued at approximately $122,000. Finally, Arizona State Retirement System bought a new stake in shares of BioLife Solutions during the second quarter valued at approximately $217,000. Institutional investors own 93.24% of the company’s stock.

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.