Brokerages Set BioLife Solutions, Inc. (NASDAQ:BLFS) Price Target at $24.60

BioLife Solutions, Inc. (NASDAQ:BLFS) has earned an average rating of “Buy” from the five analysts that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $24.60.

BLFS has been the topic of a number of research reports. TD Cowen cut their target price on shares of BioLife Solutions from $29.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 9th. Lake Street Capital lowered their price target on shares of BioLife Solutions from $34.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. Craig Hallum lowered their price target on shares of BioLife Solutions from $29.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 10th. StockNews.com upgraded shares of BioLife Solutions to a “sell” rating in a report on Thursday, July 20th. Finally, Stephens lowered their price target on shares of BioLife Solutions from $29.00 to $22.00 in a report on Wednesday, August 9th.

Insider Buying and Selling

In related news, major shareholder Casdin Partners Master Fund, L bought 58,465 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was bought at an average cost of $13.20 per share, for a total transaction of $771,738.00. Following the purchase, the insider now directly owns 7,630,000 shares of the company’s stock, valued at $100,716,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Aby J. Mathew sold 10,000 shares of the company’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $23.32, for a total value of $233,200.00. Following the sale, the executive vice president now directly owns 272,614 shares of the company’s stock, valued at approximately $6,357,358.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Casdin Partners Master Fund, L acquired 58,465 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was acquired at an average cost of $13.20 per share, for a total transaction of $771,738.00. Following the completion of the acquisition, the insider now directly owns 7,630,000 shares in the company, valued at $100,716,000. The disclosure for this purchase can be found here. Insiders sold 29,491 shares of company stock worth $591,650 in the last three months. Corporate insiders own 2.70% of the company’s stock.

Institutional Trading of BioLife Solutions

Large investors have recently made changes to their positions in the business. Barclays PLC boosted its holdings in shares of BioLife Solutions by 6.4% in the 1st quarter. Barclays PLC now owns 17,460 shares of the medical equipment provider’s stock valued at $380,000 after acquiring an additional 1,050 shares during the last quarter. Gagnon Advisors LLC boosted its holdings in shares of BioLife Solutions by 18.3% in the 1st quarter. Gagnon Advisors LLC now owns 360,758 shares of the medical equipment provider’s stock valued at $7,846,000 after acquiring an additional 55,848 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of BioLife Solutions by 13.5% in the 1st quarter. Handelsbanken Fonder AB now owns 27,800 shares of the medical equipment provider’s stock valued at $605,000 after acquiring an additional 3,300 shares during the last quarter. Ranger Investment Management L.P. boosted its holdings in shares of BioLife Solutions by 2.0% in the 1st quarter. Ranger Investment Management L.P. now owns 330,825 shares of the medical equipment provider’s stock valued at $7,195,000 after acquiring an additional 6,535 shares during the last quarter. Finally, Osterweis Capital Management Inc. lifted its stake in shares of BioLife Solutions by 14.7% in the 4th quarter. Osterweis Capital Management Inc. now owns 115,135 shares of the medical equipment provider’s stock valued at $2,095,000 after purchasing an additional 14,780 shares during the period. 93.24% of the stock is owned by hedge funds and other institutional investors.

BioLife Solutions Trading Up 2.5 %

NASDAQ BLFS opened at $13.33 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.05 and a current ratio of 3.04. The company has a market capitalization of $579.72 million, a price-to-earnings ratio of -6.91 and a beta of 1.65. The company’s 50-day simple moving average is $16.53 and its two-hundred day simple moving average is $19.64. BioLife Solutions has a one year low of $10.48 and a one year high of $26.90.

BioLife Solutions (NASDAQ:BLFS) last posted its earnings results on Tuesday, August 8th. The medical equipment provider reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.22). The business had revenue of $39.51 million for the quarter, compared to analysts’ expectations of $43.93 million. BioLife Solutions had a negative net margin of 51.20% and a negative return on equity of 9.87%. Equities analysts forecast that BioLife Solutions will post -0.9 EPS for the current fiscal year.

About BioLife Solutions

BioLife Solutions, Inc develops, manufactures, and supplies bioproduction tools and services for the cell and gene therapy industry in the United States, Canada, 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.