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

BioLife Solutions, Inc. (NASDAQ:BLFS) has been given an average recommendation of “Buy” by the five analysts that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $26.20.

BLFS has been the subject of several research analyst reports. Northland Securities upped their target price on BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. TD Cowen increased their price objective on shares of BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Craig Hallum boosted their target price on shares of BioLife Solutions from $23.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, August 12th.

BioLife Solutions Stock Performance

Shares of NASDAQ BLFS opened at $25.77 on Friday. The company has a market capitalization of $1.19 billion, a PE ratio of -18.15 and a beta of 1.87. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.81 and a current ratio of 2.86. The company’s fifty day moving average price is $24.17 and its 200 day moving average price is $20.94. BioLife Solutions has a 1 year low of $8.92 and a 1 year high of $26.73.

BioLife Solutions (NASDAQ:BLFS) last posted its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.08. The firm had revenue of $28.33 million for the quarter, compared to analysts’ expectations of $23.80 million. BioLife Solutions had a negative return on equity of 10.75% and a negative net margin of 59.88%. On average, research analysts predict that BioLife Solutions will post -0.36 earnings per share for the current year.

Insider Buying and Selling at BioLife Solutions

In other news, CRO Garrie Richardson sold 3,070 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $25.12, for a total transaction of $77,118.40. Following the completion of the sale, the executive now owns 114,773 shares of the company’s stock, valued at $2,883,097.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CRO Garrie Richardson sold 3,070 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was 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. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Sarah Aebersold sold 3,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $21.03, for a total value of $63,090.00. Following the completion of the sale, the insider now directly owns 61,683 shares of the company’s stock, valued at approximately $1,297,193.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,944 shares of company stock worth $468,709. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in BioLife Solutions by 11.5% during the first quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider’s stock worth $53,208,000 after purchasing an additional 296,727 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of BioLife Solutions by 1,038.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,401,899 shares of the medical equipment provider’s stock valued at $39,031,000 after buying an additional 2,191,002 shares during the period. William Blair Investment Management LLC increased its holdings in shares of BioLife Solutions by 0.8% during the 1st quarter. William Blair Investment Management LLC now owns 1,726,712 shares of the medical equipment provider’s stock worth $32,031,000 after buying an additional 13,785 shares during the last quarter. Fred Alger Management LLC raised its position in shares of BioLife Solutions by 6.0% during the 2nd quarter. Fred Alger Management LLC now owns 1,579,138 shares of the medical equipment provider’s stock valued at $33,841,000 after buying an additional 88,840 shares during the period. Finally, Granahan Investment Management LLC lifted its holdings in BioLife Solutions by 22.8% in the fourth quarter. Granahan Investment Management LLC now owns 1,292,675 shares of the medical equipment provider’s stock valued at $21,006,000 after acquiring an additional 240,001 shares during the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

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.