BioLife Solutions (NASDAQ:BLFS) Sets New 1-Year High – Should You Buy?

BioLife Solutions, Inc. (NASDAQ:BLFS) hit a new 52-week high during trading on Tuesday . The stock traded as high as $38.25 and last traded at $38.2740, with a volume of 128163 shares. The stock had previously closed at $37.18.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BLFS shares. Stephens reiterated an “equal weight” rating and issued a $31.00 target price (down from $32.00) on shares of BioLife Solutions in a research report on Monday, July 27th. Lake Street Capital downgraded BioLife Solutions from a “buy” rating to a “hold” rating and cut their target price for the stock from $33.00 to $31.00 in a report on Wednesday, July 22nd. Benchmark lowered BioLife Solutions from a “buy” rating to a “hold” rating in a research report on Monday, August 10th. HC Wainwright downgraded BioLife Solutions from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $32.00 to $31.00 in a research report on Thursday, July 23rd. Finally, Craig Hallum downgraded BioLife Solutions from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $31.38.

BioLife Solutions Stock Up 2.2%

The stock’s 50-day simple moving average is $34.09 and its 200 day simple moving average is $26.89. The firm has a market cap of $1.86 billion, a P/E ratio of 32.77 and a beta of 1.91.

BioLife Solutions (NASDAQ:BLFS) last posted its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.88. The firm had revenue of $28.47 million during the quarter, compared to analyst estimates of $27.80 million. BioLife Solutions had a return on equity of 2.70% and a net margin of 53.29%. On average, research analysts forecast that BioLife Solutions, Inc. will post 0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BioLife Solutions

A number of institutional investors and hedge funds have recently modified their holdings of BLFS. State of Wyoming acquired a new stake in BioLife Solutions in the first quarter worth $52,000. Hantz Financial Services Inc. boosted its position in shares of BioLife Solutions by 42.4% during the 4th quarter. Hantz Financial Services Inc. now owns 2,673 shares of the medical equipment provider’s stock worth $65,000 after purchasing an additional 796 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of BioLife Solutions in the 2nd quarter valued at about $201,000. AXQ Capital LP acquired a new stake in shares of BioLife Solutions in the 2nd quarter valued at about $203,000. Finally, Cetera Investment Advisers increased its position in BioLife Solutions by 26.8% in the 1st quarter. Cetera Investment Advisers now owns 11,614 shares of the medical equipment provider’s stock valued at $222,000 after buying an additional 2,458 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors.

BioLife Solutions Company Profile

BioLife Solutions, Inc develops and supplies tools and services used in the development, manufacture, preservation and distribution of cell and gene therapies. Its products are designed to help maintain the viability and functionality of cells, tissues and other biological materials during processing, freezing, storage and transportation.

The company’s portfolio includes cell and tissue preservation media, thawing and processing solutions, cryogenic storage systems, controlled-rate freezing equipment and related bioproduction technologies.