BioLife Solutions, Inc. (NASDAQ:BLFS) Receives $29.86 Average Target Price from Brokerages

BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report) has earned an average rating of "Buy" from the seven brokerages that are covering the company, Marketbeat reports. Seven research analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $29.86.

A number of equities analysts have issued reports on the stock. Benchmark reaffirmed a "buy" rating and set a $30.00 price objective on shares of BioLife Solutions in a report on Thursday, December 19th. Craig Hallum upped their price objective on shares of BioLife Solutions from $30.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Northland Securities increased their price objective on shares of BioLife Solutions from $28.00 to $31.00 and gave the company an "outperform" rating in a research note on Wednesday, January 8th. HC Wainwright boosted their target price on BioLife Solutions from $27.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Finally, TD Cowen lifted their price target on BioLife Solutions from $28.00 to $31.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th.

BioLife Solutions Stock Down 1.1 %

Shares of NASDAQ:BLFS traded down $0.29 during midday trading on Friday, hitting $26.33. 192,975 shares of the company's stock were exchanged, compared to its average volume of 292,830. 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 12 month low of $14.84 and a 12 month high of $29.55. The company has a market cap of $1.24 billion, a PE ratio of -24.84 and a beta of 2.04. The stock has a 50 day moving average price of $26.63 and a 200-day moving average price of $25.50.

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BioLife Solutions (NASDAQ:BLFS - Get Free Report) last issued its quarterly earnings data on Monday, March 3rd. The medical equipment provider reported $0.26 EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $0.32. BioLife Solutions had a negative return on equity of 6.61% and a negative net margin of 38.98%. The firm had revenue of $22.71 million during the quarter, compared to analyst estimates of $21.73 million. During the same period in the previous year, the company posted ($0.21) EPS. On average, sell-side analysts anticipate that BioLife Solutions will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling at BioLife Solutions

In other news, 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 completion of the transaction, the chief financial officer now owns 121,779 shares in the company, valued at $3,290,468.58. This trade represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Aby J. Mathew sold 7,604 shares of the business's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $27.33, for a total transaction of $207,817.32. Following the completion of the sale, the executive vice president now directly owns 276,315 shares in the company, valued at approximately $7,551,688.95. This trade represents a 2.68 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,978 shares of company stock valued at $322,724. Company insiders own 2.20% of the company's stock.

Hedge Funds Weigh In On BioLife Solutions

A number of large investors have recently made changes to their positions in BLFS. Raymond James Financial Inc. purchased a new stake in BioLife Solutions during the 4th quarter worth about $20,664,000. Massachusetts Financial Services Co. MA bought a new stake in shares of BioLife Solutions during the fourth quarter valued at about $19,805,000. Point72 Asset Management L.P. purchased a new stake in shares of BioLife Solutions in the fourth quarter worth about $11,113,000. Millennium Management LLC boosted its position in shares of BioLife Solutions by 49.1% in the fourth quarter. Millennium Management LLC now owns 1,145,347 shares of the medical equipment provider's stock valued at $29,733,000 after acquiring an additional 377,111 shares during the period. Finally, Rockefeller Capital Management L.P. grew its stake in BioLife Solutions by 81.3% during the third quarter. Rockefeller Capital Management L.P. now owns 585,497 shares of the medical equipment provider's stock valued at $14,661,000 after acquiring an additional 262,504 shares in the last quarter. 93.24% of the stock is owned by institutional investors.

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.