BioLife Solutions (NASDAQ:BLFS) Price Target Raised to $30.00

BioLife Solutions (NASDAQ:BLFS) had its target price hoisted by Craig Hallum from $23.00 to $30.00 in a research report report published on Monday, Benzinga reports. Craig Hallum currently has a buy rating on the medical equipment provider’s stock.

A number of other brokerages have also recently commented on BLFS. TD Cowen lifted their target price on BioLife Solutions from $20.00 to $26.00 and gave the stock a buy rating in a report on Wednesday, July 17th. Benchmark upgraded shares of BioLife Solutions from a neutral rating to a buy rating and set a $25.00 target price for the company in a report on Monday, May 13th. Northland Securities upped their price target on shares of BioLife Solutions from $26.00 to $28.00 and gave the company an outperform rating in a report on Friday, August 9th. Finally, StockNews.com upgraded BioLife Solutions to a sell rating in a research report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $26.20.

BioLife Solutions Stock Performance

Shares of NASDAQ:BLFS opened at $25.76 on Monday. The firm has a fifty day simple moving average of $21.90 and a two-hundred day simple moving average of $19.61. The company has a quick ratio of 1.77, a current ratio of 2.89 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $1.19 billion, a P/E ratio of -18.14 and a beta of 1.85. BioLife Solutions has a 52 week low of $8.92 and a 52 week high of $26.73.

Insider Buying and Selling at BioLife Solutions

In related news, CMO Todd Berard sold 10,000 shares of BioLife Solutions stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $20.18, for a total value of $201,800.00. Following the completion of the sale, the chief marketing officer now directly owns 108,894 shares in the company, valued at $2,197,480.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other BioLife Solutions news, insider Sarah Aebersold sold 3,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $21.03, for a total transaction of $63,090.00. Following the sale, the insider now owns 61,683 shares of the company’s stock, valued at approximately $1,297,193.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Todd Berard sold 10,000 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $20.18, for a total value of $201,800.00. Following the completion of the transaction, the chief marketing officer now directly owns 108,894 shares of the company’s stock, valued at $2,197,480.92. The disclosure for this sale can be found here. Insiders sold a total of 14,844 shares of company stock valued at $305,052 in the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On BioLife Solutions

Large investors have recently added to or reduced their stakes in the company. Meros Investment Management LP boosted its stake in BioLife Solutions by 1.7% in the second quarter. Meros Investment Management LP now owns 399,803 shares of the medical equipment provider’s stock valued at $8,568,000 after acquiring an additional 6,586 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of BioLife Solutions by 5.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,825 shares of the medical equipment provider’s stock worth $296,000 after purchasing an additional 753 shares in the last quarter. Squarepoint Ops LLC purchased a new position in BioLife Solutions during the 2nd quarter worth $1,041,000. Fred Alger Management LLC grew its stake in 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 worth $33,841,000 after buying an additional 88,840 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in BioLife Solutions during the 2nd quarter valued at about $229,000. 93.24% of the stock is currently owned by institutional investors.

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.