BioLife Solutions, Inc. (NASDAQ:BLFS) Stock Has Average Price Target of $31.38 According to Analysts

BioLife Solutions, Inc. (NASDAQ:BLFS) has earned a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $31.38.

Several analysts recently issued reports on the stock. Wall Street Zen downgraded shares of BioLife Solutions from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. HC Wainwright downgraded shares of BioLife Solutions from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $32.00 to $31.00 in a report on Thursday, July 23rd. William Blair set a $31.00 target price on shares of BioLife Solutions in a research report on Thursday, July 23rd. TD Cowen lowered shares of 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 research report on Wednesday, July 22nd. Finally, Craig Hallum cut shares of BioLife Solutions from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a report on Wednesday, July 22nd.

Hedge Funds Weigh In On BioLife Solutions

Large investors have recently made changes to their positions in the business. Bank of America Corp DE boosted its stake in 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 purchasing an additional 382,776 shares during the period. Granahan Investment Management LLC grew its holdings 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 valued at $13,777,000 after buying an additional 239,701 shares during the last quarter. Ranger Investment Management L.P. acquired a new stake in BioLife Solutions in the 2nd quarter valued at approximately $6,736,000. Bank of New York Mellon Corp acquired a new stake in BioLife Solutions in the 2nd quarter valued at approximately $6,470,000. Finally, Summit Creek Advisors LLC bought a new position in BioLife Solutions in the 2nd quarter worth approximately $5,099,000. Institutional investors and hedge funds own 93.24% of the company’s stock.

BioLife Solutions Price Performance

Shares of BioLife Solutions stock opened at $38.61 on Friday. BioLife Solutions has a 12-month low of $17.86 and a 12-month high of $39.76. The stock has a 50 day moving average price of $37.50 and a two-hundred day moving average price of $27.88. The stock has a market capitalization of $1.89 billion, a P/E ratio of 33.28 and a beta of 1.82.

BioLife Solutions (NASDAQ:BLFS) last released its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.88. BioLife Solutions had a net margin of 53.29% and a return on equity of 2.70%. The company had revenue of $28.47 million for the quarter, compared to analyst estimates of $27.80 million. Sell-side analysts anticipate that BioLife Solutions will post 0.03 earnings per share for the current year.

About BioLife Solutions

BioLife Solutions, Inc develops and supplies products and services used to preserve, process, store and transport biological materials. Its solutions support the development and manufacture of cell and gene therapies, including products designed to help maintain the viability and functionality of cells, tissues and other biologic materials throughout the bioprocessing workflow.

The company’s portfolio includes preservation media such as CryoStor and HypoThermosol, cell thawing and handling products, and related storage and shipping systems.