BioLife Solutions, Inc. (NASDAQ:BLFS) to Post Q3 2024 Earnings of ($0.09) Per Share, HC Wainwright Forecasts

BioLife Solutions, Inc. (NASDAQ:BLFS) – HC Wainwright issued their Q3 2024 EPS estimates for BioLife Solutions in a report released on Monday, September 30th. HC Wainwright analyst Y. Chen anticipates that the medical equipment provider will post earnings per share of ($0.09) for the quarter. HC Wainwright currently has a “Buy” rating and a $29.00 price target on the stock. The consensus estimate for BioLife Solutions’ current full-year earnings is ($0.36) per share. HC Wainwright also issued estimates for BioLife Solutions’ Q4 2024 earnings at ($0.09) EPS.

A number of other research firms also recently commented on BLFS. Craig Hallum upped their price objective on BioLife Solutions from $23.00 to $30.00 and gave the company a “buy” rating in a report on Monday, August 12th. TD Cowen boosted their price objective on shares of BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Northland Securities upped their target price on shares of BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $26.67.

BioLife Solutions Stock Performance

Shares of BioLife Solutions stock opened at $25.04 on Tuesday. The firm has a fifty day moving average of $24.51 and a two-hundred day moving average of $21.28. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.81 and a current ratio of 2.86. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -17.63 and a beta of 1.87. BioLife Solutions has a 52 week low of $8.92 and a 52 week high of $26.73.

BioLife Solutions (NASDAQ:BLFS) last issued its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.08. The company had revenue of $28.33 million for the quarter, compared to analyst estimates of $23.80 million. BioLife Solutions had a negative net margin of 59.88% and a negative return on equity of 10.75%.

Institutional Investors Weigh In On BioLife Solutions

Several hedge funds have recently added to or reduced their stakes in the business. Conestoga Capital Advisors LLC raised its stake in BioLife Solutions by 1.0% during the first quarter. Conestoga Capital Advisors LLC now owns 65,477 shares of the medical equipment provider’s stock worth $1,215,000 after buying an additional 630 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in BioLife Solutions by 4.0% in the second 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 in the last quarter. The Manufacturers Life Insurance Company lifted its stake in BioLife Solutions by 5.8% in 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 period. Sei Investments Co. boosted its holdings in shares of BioLife Solutions by 1.4% during the 1st quarter. Sei Investments Co. now owns 60,191 shares of the medical equipment provider’s stock worth $1,117,000 after buying an additional 839 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of BioLife Solutions by 10.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,129 shares of the medical equipment provider’s stock worth $281,000 after buying an additional 1,374 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BioLife Solutions

In other news, EVP Aby J. Mathew sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were 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 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 accessible through this hyperlink. In other news, CRO Garrie Richardson sold 3,070 shares of the stock in a transaction on 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 directly owns 114,773 shares in the company, valued at approximately $2,883,097.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Aby J. Mathew sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $23.90, for a total value of $239,000.00. Following the completion of the transaction, the executive vice president now directly 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. In the last three months, insiders have sold 16,944 shares of company stock valued at $405,619. 2.20% of the stock is owned by corporate insiders.

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.