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

BioLife Solutions, Inc. (NASDAQ:BLFS) has been assigned a consensus recommendation of “Buy” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $29.86.

Several brokerages recently commented on BLFS. Benchmark reaffirmed a “buy” rating and set a $30.00 price objective on shares of BioLife Solutions in a research note on Thursday, December 19th. KeyCorp increased their target price on BioLife Solutions from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. HC Wainwright increased their target price on BioLife Solutions from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday. TD Cowen increased their target price on BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Northland Securities increased their target price on BioLife Solutions from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th.

Insider Activity

In other news, EVP Aby J. Mathew sold 7,604 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $27.33, for a total value of $207,817.32. Following the completion of the transaction, the executive vice president now owns 276,315 shares in the company, valued at $7,551,688.95. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Troy Wichterman sold 987 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $3,290,468.58. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,978 shares of company stock worth $322,724 in the last quarter. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On BioLife Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in BioLife Solutions by 13.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 70,686 shares of the medical equipment provider’s stock worth $1,835,000 after purchasing an additional 8,258 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in BioLife Solutions during the fourth quarter worth about $31,000. Point72 Asset Management L.P. bought a new position in BioLife Solutions during the fourth quarter worth about $11,113,000. ProShare Advisors LLC bought a new position in BioLife Solutions during the fourth quarter worth about $282,000. Finally, Millennium Management LLC grew its holdings in BioLife Solutions by 49.1% during the fourth quarter. Millennium Management LLC now owns 1,145,347 shares of the medical equipment provider’s stock worth $29,733,000 after purchasing an additional 377,111 shares during the period. Institutional investors own 93.24% of the company’s stock.

BioLife Solutions Price Performance

NASDAQ BLFS opened at $25.83 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.78. BioLife Solutions has a fifty-two week low of $14.84 and a fifty-two week high of $29.55. The stock’s 50-day moving average is $26.65 and its two-hundred day moving average is $25.49. The firm has a market cap of $1.21 billion, a P/E ratio of -24.37 and a beta of 2.04.

BioLife Solutions (NASDAQ:BLFS) last issued its quarterly earnings data on Monday, March 3rd. The medical equipment provider reported $0.26 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.32. The business had revenue of $22.71 million for the quarter, compared to the consensus estimate of $21.73 million. BioLife Solutions had a negative return on equity of 6.61% and a negative net margin of 38.98%. During the same quarter last year, the business posted ($0.21) EPS. On average, analysts anticipate that BioLife Solutions will post -0.3 earnings per share for the current fiscal year.

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.