HC Wainwright Forecasts Strong Price Appreciation for BioLife Solutions (NASDAQ:BLFS) Stock

BioLife Solutions (NASDAQ:BLFS) had its price objective boosted by stock analysts at HC Wainwright from $27.00 to $30.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. HC Wainwright’s price objective would indicate a potential upside of 16.14% from the company’s current price.

Other analysts have also recently issued research reports about the company. Northland Securities increased their target price on BioLife Solutions from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. KeyCorp raised their price objective on BioLife Solutions from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. TD Cowen raised their price objective on BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Craig Hallum raised their price objective 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, Benchmark reissued a “buy” rating and issued a $30.00 price objective on shares of BioLife Solutions in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to MarketBeat, BioLife Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.86.

BioLife Solutions Stock Down 3.6 %

Shares of NASDAQ BLFS opened at $25.83 on Thursday. The company has a current ratio of 2.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $1.20 billion, a PE ratio of -24.37 and a beta of 1.91. The stock’s fifty day simple moving average is $26.66 and its two-hundred day simple moving average is $25.49. BioLife Solutions has a 12-month low of $14.84 and a 12-month high of $29.55.

BioLife Solutions (NASDAQ:BLFS) last announced its earnings results on Monday, March 3rd. The medical equipment provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.32. The business had revenue of $22.71 million for the quarter, compared to analysts’ expectations 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 firm earned ($0.21) EPS. As a group, analysts expect that BioLife Solutions will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Aby J. Mathew sold 7,604 shares of the firm’s stock in a transaction on 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 SEC, which is available at this link. Also, CFO Troy Wichterman sold 987 shares of BioLife Solutions 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 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 90 days. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On BioLife Solutions

Institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC purchased a new position in shares of BioLife Solutions during the 4th quarter valued at about $26,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of BioLife Solutions during the 3rd quarter valued at about $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of BioLife Solutions during the 4th quarter valued at about $31,000. Quest Partners LLC purchased a new position in shares of BioLife Solutions during the 3rd quarter valued at about $57,000. Finally, 1620 Investment Advisors Inc. raised its stake in shares of BioLife Solutions by 41.7% during the 4th quarter. 1620 Investment Advisors Inc. now owns 2,295 shares of the medical equipment provider’s stock valued at $60,000 after buying an additional 675 shares during 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.