BioLife Solutions (NASDAQ:BLFS) Earns Buy Rating from Analysts at HC Wainwright

Equities researchers at HC Wainwright began coverage on shares of BioLife Solutions (NASDAQ:BLFS) in a research report issued on Monday, Marketbeat reports. The firm set a “buy” rating and a $29.00 price target on the medical equipment provider’s stock. HC Wainwright’s price target would suggest a potential upside of 20.13% from the company’s previous close. HC Wainwright also issued estimates for BioLife Solutions’ Q3 2024 earnings at ($0.09) EPS and Q4 2024 earnings at ($0.09) EPS.

BLFS has been the subject of several other research reports. TD Cowen raised their price objective on shares of BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Northland Securities raised their target price on shares of BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Finally, Craig Hallum lifted their price target on shares of BioLife Solutions from $23.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $26.67.

BioLife Solutions Price Performance

Shares of NASDAQ BLFS opened at $24.14 on Monday. BioLife Solutions has a fifty-two week low of $8.92 and a fifty-two week high of $26.73. The firm’s 50-day simple moving average is $24.51 and its 200 day simple moving average is $21.28. The company has a quick ratio of 1.81, a current ratio of 2.86 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.11 billion, a P/E ratio of -17.00 and a beta of 1.87.

BioLife Solutions (NASDAQ:BLFS) last issued its quarterly earnings data on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.08. The business had revenue of $28.33 million for the quarter, compared to analysts’ expectations of $23.80 million. BioLife Solutions had a negative net margin of 59.88% and a negative return on equity of 10.75%. Equities analysts expect that BioLife Solutions will post -0.36 EPS for the current year.

Insider Buying and Selling at BioLife Solutions

In other news, EVP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total value of $239,000.00. Following the transaction, the executive vice president now directly owns 317,716 shares of the company’s stock, valued at $7,593,412.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other BioLife Solutions news, CRO Garrie Richardson sold 3,070 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $25.12, for a total transaction 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. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Aby J. Mathew sold 10,000 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total value of $239,000.00. Following the completion of the sale, the executive vice president now owns 317,716 shares of the company’s stock, valued at approximately $7,593,412.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,944 shares of company stock valued at $405,619. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BLFS. 1620 Investment Advisors Inc. purchased a new position in BioLife Solutions during the 2nd quarter valued at about $35,000. Isthmus Partners LLC lifted its position in shares of BioLife Solutions by 34.4% in the second quarter. Isthmus Partners LLC now owns 165,247 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 42,265 shares in the last quarter. Register Financial Advisors LLC acquired a new stake in shares of BioLife Solutions during the first quarter worth approximately $96,000. Canada Pension Plan Investment Board purchased a new position in BioLife Solutions during the second quarter valued at approximately $122,000. Finally, Arizona State Retirement System acquired a new position in BioLife Solutions in the 2nd quarter valued at approximately $217,000. 93.24% of the stock is owned by institutional investors and hedge funds.

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.