BioLife Solutions, Inc. (NASDAQ:BLFS) Receives $26.67 Average PT from Brokerages

BioLife Solutions, Inc. (NASDAQ:BLFS) has been assigned an average rating of “Buy” from the six brokerages that are currently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $26.67.

Several research analysts recently weighed in on the stock. TD Cowen boosted their price target on shares of BioLife Solutions from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. HC Wainwright began coverage on BioLife Solutions in a report on Monday, September 30th. They set a “buy” rating and a $29.00 price target on the stock. Craig Hallum upped their price objective on BioLife Solutions from $23.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Northland Securities lifted their target price on BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th.

Insider Activity at BioLife Solutions

In other BioLife Solutions news, CRO Garrie Richardson sold 3,070 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $25.12, for a total transaction of $77,118.40. Following the completion of the transaction, the executive now owns 114,773 shares in the company, valued at $2,883,097.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other BioLife Solutions news, EVP Aby J. Mathew sold 10,000 shares of the 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 transaction, the executive vice president now directly owns 317,716 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Garrie Richardson sold 3,070 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $25.12, for a total transaction of $77,118.40. Following the sale, the executive now owns 114,773 shares of the company’s stock, valued at approximately $2,883,097.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,329 shares of company stock worth $372,447. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On BioLife Solutions

A number of large investors have recently bought and sold shares of BLFS. 1620 Investment Advisors Inc. purchased a new stake in BioLife Solutions in the 2nd quarter worth approximately $35,000. Isthmus Partners LLC increased its position in BioLife Solutions by 34.4% during the 2nd 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 in the last quarter. GAMMA Investing LLC raised its holdings in BioLife Solutions by 29.4% in the third quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock worth $83,000 after buying an additional 748 shares during the last quarter. Register Financial Advisors LLC bought a new position in BioLife Solutions in the 1st quarter valued at approximately $96,000. Finally, Canada Pension Plan Investment Board bought a new stake in BioLife Solutions in the 2nd quarter worth about $122,000. 93.24% of the stock is owned by hedge funds and other institutional investors.

BioLife Solutions Trading Up 1.8 %

Shares of BioLife Solutions stock opened at $22.60 on Thursday. The stock has a market capitalization of $1.04 billion, a PE ratio of -15.92 and a beta of 1.88. The stock has a 50 day moving average price of $24.57 and a two-hundred day moving average price of $21.61. 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 has a 52 week low of $8.92 and a 52 week high of $26.73.

BioLife Solutions (NASDAQ:BLFS) last issued its quarterly earnings data 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. The firm had revenue of $28.33 million during the quarter, compared to analyst estimates of $23.80 million. BioLife Solutions had a negative return on equity of 10.75% and a negative net margin of 59.88%. As a group, equities analysts anticipate that BioLife Solutions will post -0.36 earnings per share for the current fiscal year.

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.