Analysts Set BioLife Solutions, Inc. (NASDAQ:BLFS) PT at $29.86

BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report) has earned an average recommendation of "Buy" from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $31.17.

Several analysts have recently weighed in on BLFS shares. Benchmark restated a "buy" rating and issued a $30.00 price objective on shares of BioLife Solutions in a report on Thursday, December 19th. StockNews.com downgraded shares of BioLife Solutions from a "hold" rating to a "sell" rating in a report on Monday, March 31st. HC Wainwright lifted their price objective on shares of BioLife Solutions from $27.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. KeyCorp increased their target price on shares of BioLife Solutions from $30.00 to $33.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Finally, Northland Securities lifted their price target on shares of BioLife Solutions from $28.00 to $31.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 8th.

BioLife Solutions Price Performance

Shares of BLFS stock traded up $1.06 during midday trading on Thursday, reaching $21.94. 1,163,659 shares of the company were exchanged, compared to its average volume of 365,390. The company's 50 day moving average price is $25.74 and its two-hundred day moving average price is $25.48. The company has a market cap of $1.03 billion, a P/E ratio of -20.70 and a beta of 1.93. BioLife Solutions has a 12 month low of $14.84 and a 12 month high of $29.55. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.78.

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BioLife Solutions (NASDAQ:BLFS - Get Free Report) last announced its earnings results 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 firm 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 in the previous year, the company earned ($0.21) earnings per share. On average, sell-side analysts expect that BioLife Solutions will post -0.3 earnings per share for the current year.

Insider Transactions at BioLife Solutions

In other BioLife Solutions news, CMO Todd Berard sold 1,577 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $25.00, for a total transaction of $39,425.00. Following the transaction, the chief marketing officer now directly owns 104,961 shares in the company, valued at $2,624,025. This trade represents a 1.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sarah Aebersold sold 2,695 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $25.44, for a total value of $68,560.80. Following the sale, the insider now owns 43,165 shares of the company's stock, valued at approximately $1,098,117.60. This trade represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,092 shares of company stock valued at $1,635,609 over the last ninety days. Corporate insiders own 2.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC bought a new stake in BioLife Solutions during the fourth quarter worth approximately $26,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of BioLife Solutions during the 4th quarter worth $31,000. 1620 Investment Advisors Inc. grew its stake in BioLife Solutions by 41.7% in 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. Smartleaf Asset Management LLC raised its holdings in BioLife Solutions by 27.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,469 shares of the medical equipment provider's stock worth $117,000 after acquiring an additional 950 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in BioLife Solutions in the 4th quarter worth $171,000. 93.24% of the stock is owned by institutional investors.

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.