Analysts Set BioLife Solutions, Inc. (NASDAQ:BLFS) Price Target at $23.67

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) have earned an average rating of “Buy” from the five brokerages that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $23.67.

Several research analysts have recently weighed in on the company. Jefferies Financial Group initiated coverage on BioLife Solutions in a research report on Thursday, April 4th. They issued a “buy” rating and a $22.00 price objective for the company. StockNews.com raised shares of BioLife Solutions to a “sell” rating in a research report on Friday, May 10th. Finally, Benchmark upgraded shares of BioLife Solutions from a “neutral” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Monday, May 13th.

BioLife Solutions Stock Performance

Shares of BLFS stock opened at $20.03 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.89 and a quick ratio of 1.77. BioLife Solutions has a one year low of $8.92 and a one year high of $23.85. The business’s 50 day simple moving average is $20.51 and its 200 day simple moving average is $18.35. The stock has a market capitalization of $922.76 million, a PE ratio of -14.11 and a beta of 1.85.

BioLife Solutions (NASDAQ:BLFS) last posted its quarterly earnings data on Thursday, May 9th. The medical equipment provider reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.06. BioLife Solutions had a negative net margin of 45.84% and a negative return on equity of 12.89%. The company had revenue of $31.73 million during the quarter, compared to analysts’ expectations of $29.30 million. During the same period in the prior year, the company posted ($0.27) earnings per share. As a group, research analysts forecast that BioLife Solutions will post -0.44 earnings per share for the current year.

Insider Activity

In other BioLife Solutions news, CMO Todd Berard sold 10,000 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $20.18, for a total transaction of $201,800.00. Following the transaction, the chief marketing officer now owns 108,894 shares in the company, valued at $2,197,480.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Sarah Aebersold sold 3,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $21.03, for a total value of $63,090.00. Following the completion of the sale, the insider now directly owns 61,683 shares of the company’s stock, valued at approximately $1,297,193.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Todd Berard sold 10,000 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $20.18, for a total value of $201,800.00. Following the transaction, the chief marketing officer now owns 108,894 shares in the company, valued at $2,197,480.92. The disclosure for this sale can be found here. Insiders sold a total of 27,845 shares of company stock worth $510,734 over the last quarter. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its position in BioLife Solutions by 167.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,630 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 1,020 shares during the last quarter. GAMMA Investing LLC purchased a new stake in BioLife Solutions in the 4th quarter worth about $41,000. Register Financial Advisors LLC purchased a new stake in BioLife Solutions in the 1st quarter worth about $96,000. State Board of Administration of Florida Retirement System bought a new stake in BioLife Solutions in the 1st quarter valued at about $229,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in BioLife Solutions by 10.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,129 shares of the medical equipment provider’s stock valued at $281,000 after purchasing an additional 1,374 shares during the last quarter. 93.24% of the stock is currently 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.