BioLife Solutions (NASDAQ:BLFS) Stock Price Expected to Rise, HC Wainwright Analyst Says

BioLife Solutions (NASDAQ:BLFS) had its target price raised by analysts at HC Wainwright from $27.00 to $30.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the medical equipment provider’s stock. HC Wainwright’s price objective suggests a potential upside of 14.29% from the company’s current price.

Several other equities research analysts also recently issued reports on BLFS. Northland Securities raised their target price on shares of BioLife Solutions from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. Craig Hallum upped their price objective on BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Benchmark reiterated a “buy” rating and set a $30.00 target price on shares of BioLife Solutions in a research note on Thursday, December 19th. KeyCorp increased their price target on BioLife Solutions from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, TD Cowen lifted their price objective 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. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.86.

BioLife Solutions Stock Up 5.7 %

NASDAQ:BLFS opened at $26.25 on Thursday. BioLife Solutions has a twelve month low of $14.84 and a twelve month high of $29.55. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -24.76 and a beta of 1.91. The company has a quick ratio of 1.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average price is $26.67 and its two-hundred day moving average price is $25.48.

BioLife Solutions (NASDAQ:BLFS) last issued its earnings results on Monday, March 3rd. The medical equipment provider reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.32. The business had revenue of $22.71 million for the quarter, compared to the consensus estimate of $21.73 million. BioLife Solutions had a negative net margin of 38.98% and a negative return on equity of 6.61%. During the same period in the previous year, the company earned ($0.21) earnings per share. Equities research analysts expect that BioLife Solutions will post -0.3 earnings per share for the current fiscal year.

Insider Activity at BioLife Solutions

In other news, CFO Troy Wichterman sold 987 shares of the business’s 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 sale, the chief financial officer now owns 121,779 shares of the company’s stock, valued at approximately $3,290,468.58. The trade was a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Aby J. Mathew sold 7,604 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $27.33, for a total transaction of $207,817.32. Following the completion of the transaction, the executive vice president now owns 276,315 shares in the company, valued at $7,551,688.95. This trade represents a 2.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,978 shares of company stock worth $322,724 in the last ninety days. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On BioLife Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC acquired a new stake in BioLife Solutions during the fourth quarter worth approximately $26,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of BioLife Solutions during the 3rd quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of BioLife Solutions during the 4th quarter worth $31,000. Quest Partners LLC bought a new position in shares of BioLife Solutions in the third quarter worth $57,000. Finally, 1620 Investment Advisors Inc. increased its position in shares of BioLife Solutions by 41.7% in the fourth quarter. 1620 Investment Advisors Inc. now owns 2,295 shares of the medical equipment provider’s stock worth $60,000 after purchasing an additional 675 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.