BioLife Solutions, Inc. (NASDAQ:BLFS) Given Average Rating of “Buy” by Analysts

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) have been given a consensus recommendation of “Buy” by the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $31.17.

Several research firms recently issued reports on BLFS. KeyCorp raised their target price on shares of BioLife Solutions from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Benchmark reaffirmed a “buy” rating and set a $30.00 price target on shares of BioLife Solutions in a research report on Thursday, December 19th. Northland Securities lifted their price target on shares of BioLife Solutions from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. StockNews.com raised shares of BioLife Solutions from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, HC Wainwright lifted their price target on shares of BioLife Solutions from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, March 6th.

Insider Activity at BioLife Solutions

In other news, insider Sarah Aebersold sold 5,771 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $22.66, for a total transaction of $130,770.86. Following the sale, the insider now owns 80,094 shares of the company’s stock, valued at $1,814,930.04. This trade represents a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Aby J. Mathew sold 1,597 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $25.00, for a total value of $39,925.00. Following the completion of the transaction, the executive vice president now owns 260,601 shares of the company’s stock, valued at approximately $6,515,025. This represents a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,092 shares of company stock worth $1,635,609 over the last 90 days. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On BioLife Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BLFS. Invesco Ltd. raised its holdings in shares of BioLife Solutions by 1.1% during the 4th quarter. Invesco Ltd. now owns 3,239,469 shares of the medical equipment provider’s stock worth $84,097,000 after buying an additional 36,176 shares in the last quarter. Fred Alger Management LLC increased its holdings in BioLife Solutions by 1.0% in the 4th quarter. Fred Alger Management LLC now owns 1,594,221 shares of the medical equipment provider’s stock worth $41,386,000 after purchasing an additional 16,274 shares in the last quarter. State Street Corp increased its holdings in BioLife Solutions by 7.3% in the 3rd quarter. State Street Corp now owns 1,412,316 shares of the medical equipment provider’s stock worth $35,364,000 after purchasing an additional 95,788 shares in the last quarter. Millennium Management LLC increased its holdings in BioLife Solutions by 49.1% in the 4th quarter. Millennium Management LLC now owns 1,145,347 shares of the medical equipment provider’s stock worth $29,733,000 after purchasing an additional 377,111 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in BioLife Solutions by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 887,008 shares of the medical equipment provider’s stock worth $23,028,000 after purchasing an additional 40,416 shares in the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

BioLife Solutions Stock Up 10.4 %

NASDAQ BLFS opened at $22.79 on Thursday. The business has a fifty day moving average price of $25.24 and a 200 day moving average price of $25.38. BioLife Solutions has a one year low of $14.84 and a one year high of $29.55. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.78. The company has a market cap of $1.07 billion, a P/E ratio of -21.50 and a beta of 1.93.

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

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.