What is Northland Capmk’s Forecast for BLFS FY2024 Earnings?

BioLife Solutions, Inc. (NASDAQ:BLFS) – Northland Capmk increased their FY2024 earnings per share estimates for BioLife Solutions in a research report issued to clients and investors on Wednesday, November 13th. Northland Capmk analyst C. Byrnes now anticipates that the medical equipment provider will post earnings of ($0.28) per share for the year, up from their previous estimate of ($0.47). The consensus estimate for BioLife Solutions’ current full-year earnings is ($0.29) per share. Northland Capmk also issued estimates for BioLife Solutions’ Q4 2024 earnings at ($0.01) EPS and FY2025 earnings at ($0.15) EPS.

Other research analysts also recently issued reports about the stock. HC Wainwright started coverage on shares of BioLife Solutions in a research report on Monday, September 30th. They set a “buy” rating and a $29.00 target price for the company. Craig Hallum boosted their target price on BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. TD Cowen increased their price target on BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Northland Securities boosted their price objective on BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $27.83.

BioLife Solutions Price Performance

BLFS opened at $21.02 on Monday. The firm has a market cap of $975.12 million, a P/E ratio of -19.83 and a beta of 1.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.81 and a current ratio of 2.78. BioLife Solutions has a fifty-two week low of $11.40 and a fifty-two week high of $28.88. The firm has a 50-day moving average of $24.00 and a 200 day moving average of $22.82.

Insider Activity at BioLife Solutions

In other news, CRO Garrie Richardson sold 3,070 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $25.12, for a total transaction of $77,118.40. Following the completion of the transaction, the executive now directly owns 114,773 shares in the company, valued at $2,883,097.76. The trade was a 2.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total value of $239,000.00. Following the sale, the executive vice president now directly owns 317,716 shares of the company’s stock, valued at $7,593,412.40. This represents a 3.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,471 shares of company stock worth $656,330. 2.20% of the stock is owned by company insiders.

Institutional Trading of BioLife Solutions

Several institutional investors and hedge funds have recently modified their holdings of BLFS. Vanguard Group Inc. lifted its position in BioLife Solutions by 11.5% during the first quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider’s stock valued at $53,208,000 after purchasing an additional 296,727 shares during the last quarter. Fred Alger Management LLC raised its position in 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 purchasing an additional 88,840 shares in the last quarter. State Street Corp raised its position in BioLife Solutions by 7.3% during the third quarter. State Street Corp now owns 1,412,316 shares of the medical equipment provider’s stock valued at $35,364,000 after purchasing an additional 95,788 shares in the last quarter. Geode Capital Management LLC lifted its stake in BioLife Solutions by 2.2% during the third quarter. Geode Capital Management LLC now owns 842,771 shares of the medical equipment provider’s stock worth $21,107,000 after purchasing an additional 18,473 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of BioLife Solutions by 9.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 794,971 shares of the medical equipment provider’s stock worth $17,034,000 after purchasing an additional 66,422 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

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.