BioLife Solutions (NASDAQ:BLFS) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of BioLife Solutions (NASDAQ:BLFS) from a sell rating to a hold rating in a report published on Wednesday.

A number of other equities research analysts have also issued reports on BLFS. KeyCorp raised their price target on BioLife Solutions from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Northland Securities lifted their target price on BioLife Solutions from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. Benchmark restated a “buy” rating and issued a $30.00 price target on shares of BioLife Solutions in a report on Thursday, December 19th. Finally, HC Wainwright boosted their price objective on shares of BioLife Solutions from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, BioLife Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $29.86.

BioLife Solutions Trading Up 0.6 %

BLFS stock opened at $25.48 on Wednesday. BioLife Solutions has a twelve month low of $14.84 and a twelve month high of $29.55. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -24.04 and a beta of 2.04. 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 firm’s fifty day simple moving average is $26.48 and its two-hundred day simple moving average is $25.49.

BioLife Solutions (NASDAQ:BLFS) last issued its quarterly earnings results on Monday, March 3rd. The medical equipment provider reported $0.26 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.32. The company 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 prior year, the firm posted ($0.21) EPS. As a group, analysts anticipate that BioLife Solutions will post -0.3 earnings per share for the current year.

Insiders Place Their Bets

In other BioLife Solutions news, insider Sarah Aebersold sold 5,632 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $24.96, for a total transaction of $140,574.72. Following the sale, the insider now owns 45,860 shares of the company’s stock, valued at approximately $1,144,665.60. This trade represents a 10.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Troy Wichterman sold 987 shares of the business’s stock in a transaction on Monday, January 6th. The stock was 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 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 disclosure for this sale can be found here. Insiders have sold a total of 21,117 shares of company stock worth $534,442 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BLFS. Steward Partners Investment Advisory LLC acquired a new stake in BioLife Solutions in the fourth quarter valued at approximately $26,000. Mark Sheptoff Financial Planning LLC purchased 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 in the 4th quarter worth $31,000. Quest Partners LLC purchased a new position in BioLife Solutions during the 3rd quarter worth $57,000. Finally, 1620 Investment Advisors Inc. increased its position in BioLife Solutions by 41.7% during the 4th quarter. 1620 Investment Advisors Inc. now owns 2,295 shares of the medical equipment provider’s stock valued at $60,000 after buying an additional 675 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

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.