Northland Securities Forecasts Strong Price Appreciation for BioLife Solutions (NASDAQ:BLFS) Stock

BioLife Solutions (NASDAQ:BLFS) had its price target lifted by equities research analysts at Northland Securities from $28.00 to $31.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the medical equipment provider’s stock. Northland Securities’ target price suggests a potential upside of 11.95% from the stock’s current price.

A number of other research analysts have also recently issued reports on the stock. Craig Hallum raised their price target on shares of BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. KeyCorp raised their price target on shares of BioLife Solutions from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. HC Wainwright cut their price objective on shares of BioLife Solutions from $29.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. Benchmark reiterated a “buy” rating and issued a $30.00 price objective on shares of BioLife Solutions in a research note on Thursday, December 19th. Finally, TD Cowen increased their price objective on shares of BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $29.43.

BioLife Solutions Trading Up 2.1 %

NASDAQ BLFS opened at $27.69 on Wednesday. The company has a fifty day simple moving average of $25.99 and a two-hundred day simple moving average of $24.29. The stock has a market cap of $1.28 billion, a P/E ratio of -26.12 and a beta of 1.92. BioLife Solutions has a 12-month low of $14.50 and a 12-month high of $28.88. The company has a current ratio of 2.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

Insider Buying and Selling at BioLife Solutions

In other news, EVP Aby J. Mathew sold 17,604 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $20.05, for a total value of $352,960.20. Following the transaction, the executive vice president now owns 284,442 shares in the company, valued at $5,703,062.10. This trade represents a 5.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Troy Wichterman sold 987 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $27.02, for a total value of $26,668.74. Following the completion of the transaction, the chief financial officer now owns 121,779 shares in the company, valued at approximately $3,290,468.58. This trade represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,129 shares of company stock valued at $2,576,818. Company 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 made changes to their positions in BLFS. Bank of New York Mellon Corp lifted its position in shares of BioLife Solutions by 3.1% in the second 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 acquiring an additional 8,216 shares in the last quarter. Rhumbline Advisers lifted its position in BioLife Solutions by 4.7% during the second quarter. Rhumbline Advisers now owns 87,473 shares of the medical equipment provider’s stock worth $1,875,000 after buying an additional 3,912 shares in the last quarter. Arizona State Retirement System purchased a new position in BioLife Solutions during the second quarter worth approximately $217,000. Los Angeles Capital Management LLC purchased a new position in BioLife Solutions during the second quarter worth approximately $430,000. Finally, Texas Permanent School Fund Corp lifted its position in BioLife Solutions by 8.7% during the second quarter. Texas Permanent School Fund Corp now owns 33,859 shares of the medical equipment provider’s stock worth $726,000 after buying an additional 2,714 shares in the last quarter. 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.