BioLife Solutions (NASDAQ:BLFS) Receives “Buy” Rating from Benchmark

BioLife Solutions (NASDAQ:BLFS)‘s stock had its “buy” rating reissued by equities research analysts at Benchmark in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $30.00 price objective on the medical equipment provider’s stock. Benchmark’s target price points to a potential upside of 9.53% from the stock’s current price.

Several other analysts have also recently issued reports on the company. HC Wainwright cut their price objective 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 target on BioLife Solutions from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Craig Hallum lifted their price objective 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. Finally, 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 report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

BioLife Solutions Price Performance

BLFS opened at $27.39 on Thursday. The company has a market capitalization of $1.27 billion, a P/E ratio of -25.84 and a beta of 1.91. The company has a 50-day moving average of $24.86 and a 200-day moving average of $23.68. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.78. BioLife Solutions has a 1-year low of $14.50 and a 1-year high of $28.88.

Insiders Place Their Bets

In other news, EVP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $23.28, for a total transaction of $232,800.00. Following the sale, the executive vice president now owns 317,716 shares of the company’s stock, valued at approximately $7,396,428.48. The trade was a 3.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 64,259 shares of company stock valued at $1,424,708 over the last three months. Company insiders own 2.20% of the company’s stock.

Institutional Trading of BioLife Solutions

Several large investors have recently added to or reduced their stakes in the business. Fred Alger Management LLC grew its position in BioLife Solutions by 6.0% in the 2nd quarter. Fred Alger Management LLC now owns 1,579,138 shares of the medical equipment provider’s stock valued at $33,841,000 after buying an additional 88,840 shares in the last quarter. State Street Corp lifted its stake in shares of 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 worth $35,364,000 after acquiring an additional 95,788 shares during the period. Geode Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 18,473 shares in the last quarter. Dimensional Fund Advisors LP increased 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 valued at $17,034,000 after acquiring an additional 66,422 shares during the period. Finally, Rockefeller Capital Management L.P. raised its holdings in BioLife Solutions by 81.3% during 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 purchasing an additional 262,504 shares in the last quarter. 93.24% of the stock is currently 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.