Analysts Set BioLife Solutions, Inc. (NASDAQ:BLFS) Price Target at $29.86

BioLife Solutions, Inc. (NASDAQ:BLFS) has been assigned an average rating of “Buy” from the six ratings firms that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $31.17.

BLFS has been the subject of a number of analyst reports. Northland Securities lifted their price target on shares of BioLife Solutions from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. KeyCorp raised their price target on shares of BioLife Solutions from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. StockNews.com downgraded shares of BioLife Solutions from a “hold” rating to a “sell” rating in a research note on Monday, March 31st. Benchmark reaffirmed a “buy” rating and set a $30.00 target price on shares of BioLife Solutions in a research note on Thursday, December 19th. Finally, HC Wainwright increased their price target on BioLife Solutions from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, March 6th.

Insider Activity

In other news, insider Sarah Aebersold sold 1,091 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $25.00, for a total transaction of $27,275.00. Following the completion of the transaction, the insider now directly owns 58,816 shares in the company, valued at $1,470,400. This trade represents a 1.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Aby J. Mathew sold 10,589 shares of BioLife Solutions stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $22.66, for a total value of $239,946.74. Following the completion of the transaction, the executive vice president now directly owns 309,576 shares in the company, valued at approximately $7,014,992.16. This represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,066 shares of company stock valued at $1,688,947. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BLFS. Steward Partners Investment Advisory LLC bought a new position in BioLife Solutions during the fourth quarter worth $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in BioLife Solutions during the 4th quarter worth about $31,000. 1620 Investment Advisors Inc. raised its position in shares of BioLife Solutions by 41.7% in the 4th quarter. 1620 Investment Advisors Inc. now owns 2,295 shares of the medical equipment provider’s stock worth $60,000 after acquiring an additional 675 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of BioLife Solutions by 27.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,469 shares of the medical equipment provider’s stock valued at $117,000 after purchasing an additional 950 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of BioLife Solutions in the 4th quarter valued at about $171,000. Institutional investors own 93.24% of the company’s stock.

BioLife Solutions Trading Down 7.0 %

BLFS stock opened at $20.88 on Thursday. BioLife Solutions has a twelve month low of $14.84 and a twelve month high of $29.55. The company has a market cap of $981.36 million, a P/E ratio of -19.70 and a beta of 2.04. The business has a fifty day moving average of $25.87 and a 200-day moving average of $25.50. The company has a quick ratio of 1.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.03.

BioLife Solutions (NASDAQ:BLFS) last released its quarterly earnings results on Monday, March 3rd. The medical equipment provider reported $0.26 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.32. The business had revenue of $22.71 million during the quarter, compared to analysts’ expectations of $21.73 million. BioLife Solutions had a negative return on equity of 6.61% and a negative net margin of 38.98%. During the same period last year, the firm posted ($0.21) EPS. As a group, equities research analysts expect that BioLife Solutions will post -0.3 EPS for the current year.

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.