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

BioLife Solutions, Inc. (NASDAQ:BLFS) has received a consensus recommendation of “Buy” from the five research firms that are currently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have covered the stock in the last year is $23.83.

Several research firms have recently weighed in on BLFS. Benchmark raised shares of BioLife Solutions from a “neutral” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Monday, May 13th. StockNews.com raised BioLife Solutions to a “sell” rating in a research note on Friday, May 10th. Finally, TD Cowen increased their target price on BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th.

BioLife Solutions Price Performance

BioLife Solutions stock opened at $22.65 on Friday. BioLife Solutions has a 12 month low of $8.92 and a 12 month high of $24.51. The company has a current ratio of 2.89, a quick ratio of 1.77 and a debt-to-equity ratio of 0.05. The business’s 50 day simple moving average is $21.38 and its 200 day simple moving average is $19.17. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -15.95 and a beta of 1.85.

BioLife Solutions (NASDAQ:BLFS) last posted its quarterly earnings data on Thursday, May 9th. The medical equipment provider reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.06. The business had revenue of $31.73 million for the quarter, compared to the consensus estimate of $29.30 million. BioLife Solutions had a negative return on equity of 12.89% and a negative net margin of 45.84%. During the same quarter in the prior year, the business earned ($0.27) earnings per share. Sell-side analysts forecast that BioLife Solutions will post -0.47 EPS for the current year.

Insider Activity at BioLife Solutions

In other news, insider Sarah Aebersold sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $21.03, for a total transaction of $63,090.00. Following the transaction, the insider now directly owns 61,683 shares of the company’s stock, valued at $1,297,193.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CMO Todd Berard sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $20.18, for a total transaction of $201,800.00. Following the transaction, the chief marketing officer now directly owns 108,894 shares of the company’s stock, valued at $2,197,480.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sarah Aebersold sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $21.03, for a total value of $63,090.00. Following the transaction, the insider now directly owns 61,683 shares in the company, valued at $1,297,193.49. The disclosure for this sale can be found here. Insiders have sold a total of 15,215 shares of company stock valued at $313,281 over the last 90 days. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its holdings in shares of BioLife Solutions by 167.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,630 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 1,020 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in shares of BioLife Solutions during the second quarter worth about $35,000. GAMMA Investing LLC purchased a new stake in shares of BioLife Solutions during the fourth quarter worth about $41,000. Register Financial Advisors LLC purchased a new stake in shares of BioLife Solutions during the first quarter worth about $96,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in shares of BioLife Solutions during the first quarter worth about $229,000. 93.24% of the stock is owned by institutional investors.

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.