Analysts Set BioLife Solutions, Inc. (NASDAQ:BLFS) Price Target at $33.00

BioLife Solutions, Inc. (NASDAQ:BLFS) has earned an average recommendation of “Hold” from the nine research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $31.4286.

Several research firms recently issued reports on BLFS. Zacks Research cut BioLife Solutions from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. William Blair set a $31.00 price target on BioLife Solutions in a report on Thursday. HC Wainwright cut BioLife Solutions from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $32.00 to $31.00 in a research report on Thursday. TD Cowen downgraded BioLife Solutions from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $33.00 to $31.00 in a report on Wednesday. Finally, Craig Hallum lowered BioLife Solutions from a “buy” rating to a “hold” rating and set a $31.00 target price for the company. in a research report on Wednesday.

Insider Buying and Selling

In other BioLife Solutions news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $23.70, for a total value of $15,405,000.00. Following the completion of the transaction, the insider directly owned 4,757,165 shares in the company, valued at $112,744,810.50. This represents a 12.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 1,200,000 shares of company stock worth $28,125,000. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BLFS. Jacobs Levy Equity Management Inc. purchased a new position in shares of BioLife Solutions in the first quarter valued at $283,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in BioLife Solutions by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,422 shares of the medical equipment provider’s stock valued at $489,000 after purchasing an additional 914 shares in the last quarter. Jane Street Group LLC purchased a new stake in BioLife Solutions during the first quarter valued at $1,091,000. Strs Ohio bought a new position in BioLife Solutions during the first quarter valued at $153,000. Finally, Qube Research & Technologies Ltd lifted its position in BioLife Solutions by 2,399.5% during the second quarter. Qube Research & Technologies Ltd now owns 248,474 shares of the medical equipment provider’s stock valued at $5,352,000 after purchasing an additional 238,533 shares during the last quarter. Institutional investors own 93.24% of the company’s stock.

BioLife Solutions News Roundup

Here are the key news stories impacting BioLife Solutions this week:

• Positive Sentiment: HC Wainwright reiterated a Neutral rating and a $31 price target while forecasting modest earnings growth for BioLife Solutions through 2027, which suggests analysts still see some upside from current levels. HC Wainwright earnings estimates and rating for BioLife Solutions
• Neutral Sentiment: Repligen’s planned acquisition of BioLife Solutions is being framed as strategically positive for Repligen’s cell therapy business, and the deal could provide a clear exit value for BLFS shareholders if completed. Zacks article on Repligen buying BioLife Solutions
• Negative Sentiment: Maxim Group downgraded BioLife Solutions (BLFS) from strong-buy to hold, adding pressure on the stock and signaling less enthusiasm from analysts. Maxim Group downgrade coverage via Zacks
• Negative Sentiment: Kahn Swick & Foti said it is investigating the adequacy of the price and process in BioLife’s proposed sale to Repligen, raising the risk of shareholder litigation or a challenged deal process. BusinessWire investor alert on BioLife Solutions sale investigation
• Negative Sentiment: TD Cowen also downgraded BioLife Solutions (BLFS) to hold, reinforcing the cautious tone around the stock after the acquisition announcement. TD Cowen downgrade on BioLife Solutions

BioLife Solutions Stock Performance

Shares of BLFS stock opened at $29.98 on Wednesday. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of -374.70 and a beta of 1.94. BioLife Solutions has a one year low of $17.86 and a one year high of $32.23. The company’s 50-day moving average is $26.94 and its 200 day moving average is $23.55.

BioLife Solutions (NASDAQ:BLFS) last issued its earnings results on Thursday, May 7th. The medical equipment provider reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.03. BioLife Solutions had a negative net margin of 2.80% and a positive return on equity of 1.81%. The firm had revenue of $27.50 million for the quarter, compared to the consensus estimate of $25.66 million. As a group, research analysts predict that BioLife Solutions will post 0.02 earnings per share for the current fiscal year.

BioLife Solutions Company Profile

BioLife Solutions (NASDAQ:BLFS) specializes in biopreservation and cold chain workflow solutions for cell and gene therapies, regenerative medicine and other advanced biologics. The company develops and markets proprietary cryopreservation media and technology platforms designed to maintain cell viability and functionality during processing, storage and transport. BioLife’s product portfolio addresses critical steps in the manufacturing and distribution of cell-based products, helping life science researchers and biopharmaceutical manufacturers protect and preserve living cells.

The company’s flagship offerings include CryoStor, a family of serum-free cryopreservation media; HypoThermosol, a hypothermic storage solution for short-term cell and tissue preservation; and the ThawSTAR system, an automated cell thawing instrument that delivers controlled and reproducible warming of frozen cell therapies.