Equities Analysts Offer Predictions for BioLife Solutions, Inc.’s Q3 2024 Earnings (NASDAQ:BLFS)

BioLife Solutions, Inc. (NASDAQ:BLFS) – HC Wainwright issued their Q3 2024 earnings per share estimates for BioLife Solutions in a report released on Monday, September 30th. HC Wainwright analyst Y. Chen forecasts that the medical equipment provider will post earnings of ($0.09) per share for the quarter. HC Wainwright currently has a “Buy” rating and a $29.00 target price on the stock. The consensus estimate for BioLife Solutions’ current full-year earnings is ($0.36) per share. HC Wainwright also issued estimates for BioLife Solutions’ Q4 2024 earnings at ($0.09) EPS.

BioLife Solutions (NASDAQ:BLFS) last issued its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.08. BioLife Solutions had a negative net margin of 59.88% and a negative return on equity of 10.75%. The firm had revenue of $28.33 million during the quarter, compared to the consensus estimate of $23.80 million.

BLFS has been the topic of several other research reports. Craig Hallum lifted their price objective on BioLife Solutions from $23.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, August 12th. TD Cowen increased their price objective on shares of BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Northland Securities raised their price objective on shares of BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.67.

BioLife Solutions Trading Down 3.6 %

Shares of BLFS opened at $24.14 on Tuesday. The stock’s 50-day moving average price is $24.51 and its 200 day moving average price is $21.28. The company has a quick ratio of 1.81, a current ratio of 2.86 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -17.00 and a beta of 1.87. BioLife Solutions has a 12-month low of $8.92 and a 12-month high of $26.73.

Insider Transactions at BioLife Solutions

In related news, EVP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total transaction of $239,000.00. Following the completion of the transaction, the executive vice president now directly owns 317,716 shares of the company’s stock, valued at approximately $7,593,412.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CRO Garrie Richardson sold 3,070 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $25.12, for a total transaction of $77,118.40. Following the sale, the executive now owns 114,773 shares in the company, valued at $2,883,097.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total value of $239,000.00. Following the completion of the transaction, the executive vice president now directly owns 317,716 shares of the company’s stock, valued at $7,593,412.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,944 shares of company stock valued at $405,619. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On BioLife Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Granahan Investment Management LLC raised its position in BioLife Solutions by 22.8% in the 4th quarter. Granahan Investment Management LLC now owns 1,292,675 shares of the medical equipment provider’s stock worth $21,006,000 after purchasing an additional 240,001 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in BioLife Solutions by 249.5% during the 1st quarter. BNP Paribas Financial Markets now owns 53,515 shares of the medical equipment provider’s stock worth $993,000 after purchasing an additional 38,201 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in BioLife Solutions during the 2nd quarter worth about $466,000. Allspring Global Investments Holdings LLC lifted its position in BioLife Solutions by 161,879.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 131,203 shares of the medical equipment provider’s stock valued at $2,434,000 after purchasing an additional 131,122 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of BioLife Solutions by 11.5% in the 1st quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider’s stock valued at $53,208,000 after purchasing an additional 296,727 shares during the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

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.