BioLife Solutions, Inc. (NASDAQ:BLFS) Receives Average Recommendation of “Buy” from Analysts

BioLife Solutions, Inc. (NASDAQ:BLFS) has been given an average rating of “Buy” by the seven analysts that are covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $29.43.

Several equities analysts have commented on the stock. KeyCorp increased their target price on shares of BioLife Solutions from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. TD Cowen increased their target price on shares of BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. HC Wainwright lowered their target price on shares of BioLife Solutions from $29.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. Benchmark reissued a “buy” rating and set a $30.00 target price on shares of BioLife Solutions in a research report on Thursday, December 19th. Finally, Craig Hallum increased their target price on shares of BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th.

Insider Buying and Selling

In other BioLife Solutions news, EVP Aby J. Mathew sold 17,604 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $20.05, for a total transaction of $352,960.20. Following the completion of the transaction, the executive vice president now owns 284,442 shares in the company, valued at $5,703,062.10. This trade represents a 5.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Troy Wichterman sold 987 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $27.02, for a total transaction of $26,668.74. Following the transaction, the chief financial officer now owns 121,779 shares of the company’s stock, valued at approximately $3,290,468.58. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,129 shares of company stock valued at $2,344,018 over the last three months. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLFS. Rhumbline Advisers lifted its stake in BioLife Solutions by 4.7% during the second quarter. Rhumbline Advisers now owns 87,473 shares of the medical equipment provider’s stock worth $1,875,000 after purchasing an additional 3,912 shares during the period. Texas Permanent School Fund Corp lifted its stake in BioLife Solutions by 8.7% during the second quarter. Texas Permanent School Fund Corp now owns 33,859 shares of the medical equipment provider’s stock worth $726,000 after purchasing an additional 2,714 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in BioLife Solutions by 84.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 33,296 shares of the medical equipment provider’s stock worth $714,000 after purchasing an additional 15,252 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of BioLife Solutions by 261.5% in the second quarter. Envestnet Asset Management Inc. now owns 127,215 shares of the medical equipment provider’s stock valued at $2,726,000 after acquiring an additional 92,021 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of BioLife Solutions by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 794,971 shares of the medical equipment provider’s stock valued at $17,034,000 after acquiring an additional 66,422 shares during the last quarter. Institutional investors own 93.24% of the company’s stock.

BioLife Solutions Price Performance

Shares of NASDAQ:BLFS opened at $27.47 on Friday. The company has a current ratio of 2.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. BioLife Solutions has a 1 year low of $14.50 and a 1 year high of $28.88. The business has a fifty day simple moving average of $26.16 and a 200 day simple moving average of $24.69. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -25.92 and a beta of 1.92.

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.