Craig Hallum Forecasts Strong Price Appreciation for BioLife Solutions (NASDAQ:BLFS) Stock

BioLife Solutions (NASDAQ:BLFS) had its target price lifted by Craig Hallum from $30.00 to $32.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the medical equipment provider’s stock.

A number of other equities analysts have also commented on BLFS. TD Cowen boosted their price target on shares of BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Northland Securities lifted 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. Finally, HC Wainwright began coverage on BioLife Solutions in a research report on Monday, September 30th. They set a “buy” rating and a $29.00 price target on the stock. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.83.

BioLife Solutions Stock Down 2.9 %

Shares of NASDAQ BLFS opened at $21.02 on Wednesday. The business has a fifty day moving average of $24.00 and a two-hundred day moving average of $22.78. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.81 and a current ratio of 2.78. BioLife Solutions has a 52-week low of $11.40 and a 52-week high of $28.88. The stock has a market cap of $975.05 million, a PE ratio of -19.83 and a beta of 1.88.

Insider Activity at BioLife Solutions

In other BioLife Solutions news, 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 transaction, the executive now directly owns 114,773 shares in the company, valued at approximately $2,883,097.76. This represents a 2.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction that occurred 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 sale, the executive vice president now owns 317,716 shares of the company’s stock, valued at approximately $7,593,412.40. This represents a 3.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,471 shares of company stock valued at $656,330 over the last quarter. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On BioLife Solutions

Several large investors have recently bought and sold shares of the business. Stifel Financial Corp lifted its stake in BioLife Solutions by 5.4% in the third quarter. Stifel Financial Corp now owns 12,988 shares of the medical equipment provider’s stock valued at $325,000 after buying an additional 670 shares during the period. Louisiana State Employees Retirement System raised its position in shares of 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 valued at $392,000 after acquiring an additional 700 shares during the period. GAMMA Investing LLC raised its position in shares of BioLife Solutions by 29.4% in the 3rd quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock valued at $83,000 after acquiring an additional 748 shares during the period. The Manufacturers Life Insurance Company boosted its stake in BioLife Solutions by 5.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,825 shares of the medical equipment provider’s stock worth $296,000 after acquiring an additional 753 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in BioLife Solutions by 1.4% during the first quarter. Sei Investments Co. now owns 60,191 shares of the medical equipment provider’s stock valued at $1,117,000 after purchasing an additional 839 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.