BioLife Solutions, Inc. (NASDAQ:BLFS) Forecasted to Earn FY2024 Earnings of ($0.56) Per Share

BioLife Solutions, Inc. (NASDAQ:BLFS) – Equities research analysts at HC Wainwright issued their FY2024 earnings estimates for shares of BioLife Solutions in a report issued on Monday, September 30th. HC Wainwright analyst Y. Chen anticipates that the medical equipment provider will earn ($0.56) per share for the year. HC Wainwright has a “Buy” rating and a $29.00 price target on the stock. The consensus estimate for BioLife Solutions’ current full-year earnings is ($0.36) per share. HC Wainwright also issued estimates for BioLife Solutions’ FY2025 earnings at ($0.37) EPS.

Several other equities analysts also recently commented on BLFS. Northland Securities boosted their target price on shares of BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Craig Hallum increased their price objective on shares of BioLife Solutions from $23.00 to $30.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, TD Cowen raised their price objective on BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.67.

BioLife Solutions Trading Down 3.6 %

BLFS stock opened at $24.14 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.86 and a quick ratio of 1.81. BioLife Solutions has a 1-year low of $8.92 and a 1-year high of $26.73. The business has a 50 day simple moving average of $24.51 and a two-hundred day simple moving average of $21.28. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -17.00 and a beta of 1.87.

BioLife Solutions (NASDAQ:BLFS) last released its quarterly earnings data on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.08. The firm had revenue of $28.33 million during the quarter, compared to analyst estimates of $23.80 million. BioLife Solutions had a negative return on equity of 10.75% and a negative net margin of 59.88%.

Insider Transactions at BioLife Solutions

In related news, EVP Aby J. Mathew sold 10,000 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total value of $239,000.00. Following the completion of the transaction, the executive vice president now owns 317,716 shares of the company’s stock, valued at approximately $7,593,412.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 owns 114,773 shares of the company’s stock, valued at approximately $2,883,097.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Aby J. Mathew sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $23.90, for a total value of $239,000.00. Following the completion of the sale, the executive vice president now owns 317,716 shares of the company’s stock, valued at $7,593,412.40. The disclosure for this sale can be found here. Insiders have sold a total of 16,944 shares of company stock worth $405,619 in the last three months. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On BioLife Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the company. Meros Investment Management LP boosted its stake in shares of BioLife Solutions by 1.7% during the 2nd quarter. Meros Investment Management LP now owns 399,803 shares of the medical equipment provider’s stock worth $8,568,000 after purchasing an additional 6,586 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of BioLife Solutions by 5.8% during the second quarter. The Manufacturers Life Insurance Company now owns 13,825 shares of the medical equipment provider’s stock valued at $296,000 after buying an additional 753 shares during the period. Squarepoint Ops LLC bought a new position in shares of BioLife Solutions during the second quarter valued at approximately $1,041,000. Fred Alger Management LLC grew its stake in shares of BioLife Solutions by 6.0% during the second 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 last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of BioLife Solutions in the second quarter worth approximately $229,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

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.