Brokerages Set BioLife Solutions, Inc. (NASDAQ:BLFS) Target Price at $26.67

BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report) has been assigned an average recommendation of "Buy" from the six research firms that are presently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $26.67.

A number of equities analysts recently issued reports on BLFS shares. HC Wainwright started coverage on BioLife Solutions in a report on Monday, September 30th. They issued a "buy" rating and a $29.00 target price on the stock. Northland Securities increased their price target on BioLife Solutions from $26.00 to $28.00 and gave the company an "outperform" rating in a research report on Friday, August 9th. TD Cowen increased their price target on BioLife Solutions from $20.00 to $26.00 and gave the company a "buy" rating in a research report on Wednesday, July 17th. Finally, Craig Hallum increased their price target on BioLife Solutions from $23.00 to $30.00 and gave the company a "buy" rating in a research report on Monday, August 12th.

BioLife Solutions Trading Up 6.2 %

Shares of BioLife Solutions stock traded up $1.49 on Monday, reaching $25.56. 328,889 shares of the company's stock were exchanged, compared to its average volume of 367,358. The company has a market capitalization of $1.18 billion, a P/E ratio of -15.01 and a beta of 1.88. BioLife Solutions has a 52 week low of $9.92 and a 52 week high of $26.73. The firm's 50-day moving average is $24.04 and its two-hundred day moving average is $22.26. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.81 and a current ratio of 2.86.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last issued its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.08. BioLife Solutions had a negative return on equity of 10.75% and a negative net margin of 59.88%. The company had revenue of $28.33 million for the quarter, compared to analysts' expectations of $23.80 million. Sell-side analysts predict that BioLife Solutions will post -0.36 EPS for the current fiscal year.

Insider Activity

In other news, CRO Garrie Richardson sold 3,070 shares of the firm's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $25.12, for a total transaction of $77,118.40. Following the completion of the sale, the executive now directly owns 114,773 shares of the company's stock, valued at $2,883,097.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Aby J. Mathew sold 10,000 shares of the firm's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $23.28, for a total transaction of $232,800.00. Following the completion of the sale, the executive vice president now directly owns 317,716 shares of the company's stock, valued at $7,396,428.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Garrie Richardson sold 3,070 shares of the firm's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $25.12, for a total value of $77,118.40. Following the sale, the executive now directly owns 114,773 shares of the company's stock, valued at approximately $2,883,097.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,044 shares of company stock valued at $645,105 in the last ninety days. 2.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BioLife Solutions

Several large investors have recently made changes to their positions in the business. Summit Global Investments bought a new position in shares of BioLife Solutions during the 3rd quarter worth $228,000. Principal Financial Group Inc. grew its stake in shares of BioLife Solutions by 4.7% during the 3rd quarter. Principal Financial Group Inc. now owns 190,715 shares of the medical equipment provider's stock worth $4,776,000 after acquiring an additional 8,580 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of BioLife Solutions by 31.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 52,449 shares of the medical equipment provider's stock worth $1,313,000 after acquiring an additional 12,421 shares during the period. Raymond James & Associates grew its stake in shares of BioLife Solutions by 4.3% during the 3rd quarter. Raymond James & Associates now owns 139,997 shares of the medical equipment provider's stock worth $3,506,000 after acquiring an additional 5,803 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of BioLife Solutions by 29.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider's stock worth $83,000 after acquiring an additional 748 shares during the period. 93.24% of the stock is owned by hedge funds and other 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.