BioLife Solutions (NASDAQ:BLFS) Given New $31.00 Price Target at Northland Securities

BioLife Solutions (NASDAQ:BLFS) had its price objective upped by Northland Securities from $28.00 to $31.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an outperform rating on the medical equipment provider’s stock.

A number of other equities research analysts have also issued reports on BLFS. HC Wainwright reduced their target price on BioLife Solutions from $29.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. KeyCorp upped their price objective on BioLife Solutions from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Benchmark reiterated a “buy” rating and set a $30.00 price objective on shares of BioLife Solutions in a research report on Thursday, December 19th. TD Cowen upped their target price on shares of BioLife Solutions from $28.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Craig Hallum lifted their price target on shares of BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BioLife Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.43.

BioLife Solutions Stock Performance

Shares of BLFS opened at $27.69 on Wednesday. The company has a 50-day moving average of $25.91 and a two-hundred day moving average of $24.27. The stock has a market cap of $1.28 billion, a P/E ratio of -26.12 and a beta of 1.92. BioLife Solutions has a 12-month low of $14.50 and a 12-month high of $28.88. The company has a current ratio of 2.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

Insider Buying and Selling at BioLife Solutions

In other BioLife Solutions news, EVP Aby J. Mathew sold 17,604 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $20.05, for a total transaction of $352,960.20. Following the completion of the sale, the executive vice president now directly owns 284,442 shares in the company, valued at $5,703,062.10. This represents a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 directly owns 121,779 shares in the company, valued at $3,290,468.58. This represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,129 shares of company stock worth $2,576,818 in the last 90 days. 2.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Fred Alger Management LLC increased its position in shares of BioLife Solutions by 6.0% in the second quarter. Fred Alger Management LLC now owns 1,579,138 shares of the medical equipment provider’s stock worth $33,841,000 after acquiring an additional 88,840 shares in the last quarter. State Street Corp increased its holdings in BioLife Solutions by 7.3% in the 3rd quarter. State Street Corp now owns 1,412,316 shares of the medical equipment provider’s stock valued at $35,364,000 after purchasing an additional 95,788 shares in the last quarter. Geode Capital Management LLC raised its position in BioLife Solutions by 2.2% in the third quarter. Geode Capital Management LLC now owns 842,771 shares of the medical equipment provider’s stock valued at $21,107,000 after purchasing an additional 18,473 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of BioLife Solutions by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 794,971 shares of the medical equipment provider’s stock worth $17,034,000 after purchasing an additional 66,422 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in shares of BioLife Solutions by 81.3% in the third quarter. Rockefeller Capital Management L.P. now owns 585,497 shares of the medical equipment provider’s stock worth $14,661,000 after buying an additional 262,504 shares during the period. 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.