BioLife Solutions, Inc. (NASDAQ:BLFS) Receives $23.83 Consensus Target Price from Analysts

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) have received an average recommendation of “Buy” from the five brokerages that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $23.83.

BLFS has been the topic of several analyst reports. Benchmark upgraded shares of BioLife Solutions from a “neutral” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Monday, May 13th. TD Cowen upped their price target on shares of BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, StockNews.com raised shares of BioLife Solutions to a “sell” rating in a research report on Friday, May 10th.

Insider Transactions at BioLife Solutions

In other news, insider Sarah Aebersold sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $21.03, for a total value of $63,090.00. Following the completion of the sale, the insider now owns 61,683 shares of the company’s stock, valued at approximately $1,297,193.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Sarah Aebersold sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $21.03, for a total value of $63,090.00. Following the completion of the sale, the insider now owns 61,683 shares of the company’s stock, valued at approximately $1,297,193.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Todd Berard sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $20.18, for a total transaction of $201,800.00. Following the completion of the sale, the chief marketing officer now directly owns 108,894 shares of the company’s stock, valued at approximately $2,197,480.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,215 shares of company stock valued at $313,281. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On BioLife Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Conestoga Capital Advisors LLC lifted its position in BioLife Solutions by 1.0% during the first quarter. Conestoga Capital Advisors LLC now owns 65,477 shares of the medical equipment provider’s stock valued at $1,215,000 after acquiring an additional 630 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in BioLife Solutions by 4.0% during the second quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the medical equipment provider’s stock valued at $392,000 after acquiring an additional 700 shares during the last quarter. Sei Investments Co. lifted its position in BioLife Solutions by 1.4% during the first quarter. Sei Investments Co. now owns 60,191 shares of the medical equipment provider’s stock valued at $1,117,000 after acquiring an additional 839 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in BioLife Solutions by 167.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,630 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 1,020 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in BioLife Solutions by 10.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,129 shares of the medical equipment provider’s stock valued at $281,000 after acquiring an additional 1,374 shares during the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

BioLife Solutions Stock Performance

BioLife Solutions stock opened at $22.65 on Friday. The company has a market cap of $1.04 billion, a PE ratio of -15.95 and a beta of 1.85. BioLife Solutions has a twelve month low of $8.92 and a twelve month high of $24.51. The company’s 50-day moving average price is $21.38 and its 200-day moving average price is $19.17. The company has a quick ratio of 1.77, a current ratio of 2.89 and a debt-to-equity ratio of 0.05.

BioLife Solutions (NASDAQ:BLFS) last issued its quarterly earnings results on Thursday, May 9th. The medical equipment provider reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.06. The company had revenue of $31.73 million for the quarter, compared to the consensus estimate of $29.30 million. BioLife Solutions had a negative net margin of 45.84% and a negative return on equity of 12.89%. During the same period in the prior year, the firm posted ($0.27) EPS. On average, equities research analysts forecast that BioLife Solutions will post -0.47 EPS for the current fiscal year.

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.