BioLife Solutions (NASDAQ:BLFS) Downgraded to “Hold” Rating by Zacks Research

Zacks Research lowered shares of BioLife Solutions (NASDAQ:BLFS) from a strong-buy rating to a hold rating in a research report report published on Monday morning,Zacks reports.

Other research analysts have also recently issued reports about the stock. Wall Street Zen cut shares of BioLife Solutions from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. HC Wainwright cut shares of BioLife Solutions from a “buy” rating to a “neutral” rating and cut their price target for the company from $32.00 to $31.00 in a report on Thursday, July 23rd. Lake Street Capital downgraded shares of BioLife Solutions from a “buy” rating to a “hold” rating and reduced their price target for the company from $33.00 to $31.00 in a research report on Wednesday, July 22nd. Stephens reissued an “equal weight” rating and set a $31.00 price target (down from $32.00) on shares of BioLife Solutions in a research report on Monday, July 27th. Finally, TD Cowen lowered shares of BioLife Solutions from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $33.00 to $31.00 in a report on Wednesday, July 22nd. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $31.38.

BioLife Solutions Trading Up 2.4%

NASDAQ BLFS opened at $38.07 on Monday. BioLife Solutions has a 12 month low of $17.86 and a 12 month high of $38.28. The stock’s fifty day moving average price is $34.28 and its 200-day moving average price is $27.01. The stock has a market cap of $1.86 billion, a P/E ratio of 32.82 and a beta of 1.91.

BioLife Solutions (NASDAQ:BLFS) last posted its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $0.91 earnings per share (EPS) 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%. As a group, analysts forecast that BioLife Solutions will post 0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE lifted its stake in shares of BioLife Solutions by 73.4% during the 1st quarter. Bank of America Corp DE now owns 904,103 shares of the medical equipment provider’s stock valued at $17,250,000 after buying an additional 382,776 shares in the last quarter. Granahan Investment Management LLC increased its stake in BioLife Solutions by 49.7% in the 1st quarter. Granahan Investment Management LLC now owns 722,057 shares of the medical equipment provider’s stock worth $13,777,000 after buying an additional 239,701 shares in the last quarter. Ranger Investment Management L.P. bought a new stake in BioLife Solutions during the second quarter valued at about $6,736,000. Bank of New York Mellon Corp bought a new stake in BioLife Solutions during the second quarter valued at about $6,470,000. Finally, Summit Creek Advisors LLC purchased a new position in shares of BioLife Solutions in the second quarter valued at about $5,099,000. Institutional investors own 93.24% of the company’s stock.

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.