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

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) have been given an average recommendation of “Buy” by the seven research firms that are currently covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have covered the stock in the last year is $29.00.

A number of brokerages have weighed in on BLFS. Benchmark reissued a “buy” rating and set a $30.00 target price on shares of BioLife Solutions in a report on Thursday, December 19th. TD Cowen raised their target price on shares of BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. HC Wainwright lowered their target price on BioLife Solutions from $29.00 to $27.00 and set a “buy” rating for the company in a report on Monday, November 18th. Craig Hallum increased their price target on BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, KeyCorp boosted their price objective on BioLife Solutions from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, December 13th.

Insider Activity

In other news, EVP Aby J. Mathew sold 25,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $21.17, for a total transaction of $529,250.00. Following the completion of the transaction, the executive vice president now owns 302,046 shares of the company’s stock, valued at approximately $6,394,313.82. This represents a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 64,259 shares of company stock valued at $1,424,708. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On BioLife Solutions

Large investors have recently added to or reduced their stakes in the company. Raymond James & Associates acquired a new stake in shares of BioLife Solutions during the 2nd quarter worth approximately $2,876,000. Louisiana State Employees Retirement System increased its holdings in BioLife Solutions by 4.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the medical equipment provider’s stock valued at $392,000 after buying an additional 700 shares during the period. Calamos Advisors LLC acquired a new position in shares of BioLife Solutions in the 2nd quarter valued at $1,227,000. Bank of New York Mellon Corp raised its stake in shares of BioLife Solutions by 3.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 275,570 shares of the medical equipment provider’s stock valued at $5,905,000 after buying an additional 8,216 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of BioLife Solutions by 2.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 134,077 shares of the medical equipment provider’s stock worth $2,873,000 after acquiring an additional 2,874 shares during the period. Institutional investors and hedge funds own 93.24% of the company’s stock.

BioLife Solutions Stock Performance

NASDAQ:BLFS opened at $26.38 on Tuesday. The firm has a 50-day moving average of $25.01 and a two-hundred day moving average of $23.79. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78. The stock has a market cap of $1.22 billion, a P/E ratio of -24.89 and a beta of 1.91. BioLife Solutions has a 1-year low of $14.50 and a 1-year high of $28.88.

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.