BioLife Solutions, Inc. (NASDAQ:BLFS) Receives Average Recommendation of “Buy” from Analysts

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) have been given an average rating of “Buy” by the five ratings firms that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $24.60.

Several research firms recently commented on BLFS. Craig Hallum cut their price objective on shares of BioLife Solutions from $29.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 10th. TD Cowen cut their price target on BioLife Solutions from $29.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, August 9th. Stephens reduced their price objective on shares of BioLife Solutions from $29.00 to $22.00 in a research note on Wednesday, August 9th. Lake Street Capital lowered their price target on BioLife Solutions from $34.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, August 9th. Finally, StockNews.com upgraded shares of BioLife Solutions to a “sell” rating in a research report on Thursday, July 20th.

BioLife Solutions Stock Performance

Shares of NASDAQ:BLFS opened at $13.40 on Monday. The business’s fifty day moving average price is $17.44 and its two-hundred day moving average price is $19.99. BioLife Solutions has a fifty-two week low of $10.48 and a fifty-two week high of $26.96. The stock has a market capitalization of $582.77 million, a price-to-earnings ratio of -6.94 and a beta of 1.63. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.04 and a quick ratio of 2.05.

BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings data on Tuesday, August 8th. The medical equipment provider reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.22). The company had revenue of $39.51 million for the quarter, compared to analyst estimates of $43.93 million. BioLife Solutions had a negative return on equity of 9.87% and a negative net margin of 51.20%. As a group, analysts predict that BioLife Solutions will post -0.69 EPS for the current fiscal year.

Insider Transactions at BioLife Solutions

In other BioLife Solutions news, EVP Aby J. Mathew sold 10,000 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $20.07, for a total transaction of $200,700.00. Following the sale, the executive vice president now owns 271,919 shares in the company, valued at $5,457,414.33. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other BioLife Solutions news, EVP Aby J. Mathew sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $20.07, for a total value of $200,700.00. Following the transaction, the executive vice president now directly owns 271,919 shares in the company, valued at approximately $5,457,414.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Casdin Partners Master Fund, L bought 58,465 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were bought at an average price of $13.20 per share, with a total value of $771,738.00. Following the completion of the transaction, the insider now owns 7,630,000 shares of the company’s stock, valued at $100,716,000. The disclosure for this purchase can be found here. Insiders sold a total of 29,491 shares of company stock worth $591,650 in the last quarter. Insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On BioLife Solutions

Institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its holdings in BioLife Solutions by 5.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,437 shares of the medical equipment provider’s stock valued at $249,000 after buying an additional 571 shares during the last quarter. Fifth Third Bancorp lifted its holdings in BioLife Solutions by 56.9% in the second quarter. Fifth Third Bancorp now owns 1,899 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 689 shares during the period. Macquarie Group Ltd. increased its holdings in BioLife Solutions by 1.1% in the 2nd quarter. Macquarie Group Ltd. now owns 73,437 shares of the medical equipment provider’s stock worth $1,014,000 after acquiring an additional 766 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of BioLife Solutions by 2.3% in the second quarter. Envestnet Asset Management Inc. now owns 35,066 shares of the medical equipment provider’s stock worth $775,000 after acquiring an additional 793 shares during the period. Finally, NorthCrest Asset Manangement LLC grew its position in shares of BioLife Solutions by 5.6% during the first quarter. NorthCrest Asset Manangement LLC now owns 15,200 shares of the medical equipment provider’s stock worth $331,000 after purchasing an additional 800 shares in the last quarter. Institutional investors own 93.24% of the company’s stock.

BioLife Solutions Company Profile

BioLife Solutions, Inc develops, manufactures, and supplies bioproduction tools and services for the cell and gene therapy industry in the United States, Canada, 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.