BioLife Solutions Inc (BLFS) Receives $22.00 Average Target Price from Analysts

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BioLife Solutions Inc (NASDAQ:BLFS) has received an average rating of “Buy” from the six research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $22.00.

A number of analysts have commented on BLFS shares. B. Riley set a $23.00 price target on shares of BioLife Solutions and gave the company a “buy” rating in a research report on Tuesday, August 14th. TheStreet raised shares of BioLife Solutions from a “d” rating to a “c-” rating in a research report on Tuesday, September 11th. ValuEngine cut shares of BioLife Solutions from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 27th. Maxim Group reaffirmed a “buy” rating and set a $26.00 price target on shares of BioLife Solutions in a research report on Wednesday, September 5th. Finally, Northland Securities reaffirmed a “buy” rating and set a $18.00 price target on shares of BioLife Solutions in a research report on Friday, August 10th.

In other news, VP Todd Berard sold 3,000 shares of the stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $17.23, for a total transaction of $51,690.00. Following the transaction, the vice president now owns 37,583 shares of the company’s stock, valued at approximately $647,555.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Raymond W. Cohen sold 10,000 shares of the stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $19.70, for a total transaction of $197,000.00. Following the transaction, the director now directly owns 43,031 shares in the company, valued at approximately $847,710.70. The disclosure for this sale can be found here. Insiders have sold a total of 107,925 shares of company stock worth $2,157,030 in the last three months. Insiders own 38.50% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Shepherd Kaplan Krochuk LLC acquired a new stake in shares of BioLife Solutions in the 2nd quarter worth about $183,000. Citadel Advisors LLC raised its holdings in shares of BioLife Solutions by 53.8% in the 2nd quarter. Citadel Advisors LLC now owns 16,989 shares of the medical equipment provider’s stock worth $194,000 after acquiring an additional 5,946 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of BioLife Solutions in the 2nd quarter worth about $114,000. OppenheimerFunds Inc. acquired a new stake in shares of BioLife Solutions in the 2nd quarter worth about $130,000. Finally, BNP Paribas Arbitrage SA acquired a new stake in shares of BioLife Solutions in the 2nd quarter worth about $799,000. 27.77% of the stock is currently owned by institutional investors.

Shares of BioLife Solutions stock traded up $0.57 during trading on Monday, hitting $12.89. The company’s stock had a trading volume of 209,295 shares, compared to its average volume of 216,245. BioLife Solutions has a 52 week low of $4.63 and a 52 week high of $26.35. The stock has a market cap of $288.08 million, a price-to-earnings ratio of -61.38 and a beta of 1.52.

BioLife Solutions (NASDAQ:BLFS) last issued its quarterly earnings data on Thursday, August 9th. The medical equipment provider reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $5.18 million for the quarter, compared to analysts’ expectations of $5.20 million. BioLife Solutions had a net margin of 1.76% and a return on equity of 2.24%. As a group, equities research analysts anticipate that BioLife Solutions will post 0.15 EPS for the current year.

About BioLife Solutions

BioLife Solutions, Inc develops, manufactures, and markets patented tissue hypothermic storage and cryopreservation freeze media products for cells, tissues, and organs in the United States. Its products are serum-free and protein-free solutions, which are formulated to reduce preservation-induced, and delayed-onset cell damage and death.

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