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

BioLife Solutions, Inc. (NASDAQ:BLFS) has earned a consensus recommendation of “Buy” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have covered the stock in the last year is $31.17.

BLFS has been the subject of several analyst reports. StockNews.com downgraded BioLife Solutions from a “hold” rating to a “sell” rating in a research note on Thursday. Northland Securities boosted their price objective on shares of BioLife Solutions from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. Finally, HC Wainwright raised their target price on shares of BioLife Solutions from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th.

BioLife Solutions Stock Up 0.6 %

Shares of NASDAQ BLFS opened at $24.95 on Monday. The business has a 50-day moving average price of $24.21 and a 200 day moving average price of $25.26. The stock has a market cap of $1.19 billion, a PE ratio of -23.54 and a beta of 1.93. The company has a quick ratio of 1.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.03. BioLife Solutions has a 52-week low of $17.15 and a 52-week high of $29.55.

BioLife Solutions (NASDAQ:BLFS) last announced its earnings results on Monday, March 3rd. The medical equipment provider reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.32. BioLife Solutions had a negative net margin of 38.98% and a negative return on equity of 6.61%. The business had revenue of $22.71 million for the quarter, compared to analysts’ expectations of $21.73 million. During the same period in the previous year, the company posted ($0.21) EPS. Equities research analysts forecast that BioLife Solutions will post -0.3 earnings per share for the current year.

Insider Transactions at BioLife Solutions

In related news, CFO Troy Wichterman sold 4,151 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $25.00, for a total value of $103,775.00. Following the transaction, the chief financial officer now directly owns 116,809 shares of the company’s stock, valued at approximately $2,920,225. This trade represents a 3.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sarah Aebersold sold 1,091 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $25.00, for a total value of $27,275.00. Following the sale, the insider now owns 58,816 shares of the company’s stock, valued at $1,470,400. This represents a 1.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,127 shares of company stock worth $1,676,533 in the last three months. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On BioLife Solutions

A number of large investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC acquired a new position in shares of BioLife Solutions in the fourth quarter worth about $26,000. Point72 Asia Singapore Pte. Ltd. bought a new position in BioLife Solutions during the 4th quarter valued at $31,000. 1620 Investment Advisors Inc. grew its holdings in BioLife Solutions by 41.7% during the 4th quarter. 1620 Investment Advisors Inc. now owns 2,295 shares of the medical equipment provider’s stock worth $60,000 after acquiring an additional 675 shares in the last quarter. GAMMA Investing LLC increased its position in shares of BioLife Solutions by 18.6% in the 1st quarter. GAMMA Investing LLC now owns 4,223 shares of the medical equipment provider’s stock worth $96,000 after purchasing an additional 663 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of BioLife Solutions by 27.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,469 shares of the medical equipment provider’s stock valued at $117,000 after purchasing an additional 950 shares in the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

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.