BioLife Solutions, Inc. (NASDAQ:BLFS) Receives $29.86 Consensus Target Price from Analysts

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) have been assigned an average recommendation of “Buy” from the six analysts that are presently covering the company, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued a report on the stock in the last year is $31.17.

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

Insider Buying and Selling at BioLife Solutions

In other news, CFO Troy Wichterman sold 25,687 shares of the company’s 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 $582,067.42. Following the completion of the transaction, the chief financial officer now directly owns 189,242 shares of the company’s stock, valued at $4,288,223.72. This represents a 11.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Sarah Aebersold sold 5,771 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $22.66, for a total value of $130,770.86. Following the sale, the insider now directly owns 80,094 shares of the company’s stock, valued at $1,814,930.04. The trade was a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,066 shares of company stock worth $1,688,947. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On BioLife Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in BioLife Solutions by 13.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 70,686 shares of the medical equipment provider’s stock worth $1,835,000 after acquiring an additional 8,258 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of BioLife Solutions during the 4th quarter worth approximately $31,000. Point72 Asset Management L.P. bought a new stake in shares of BioLife Solutions in the 4th quarter worth approximately $11,113,000. ProShare Advisors LLC purchased a new position in BioLife Solutions in the fourth quarter valued at approximately $282,000. Finally, Millennium Management LLC grew its holdings in BioLife Solutions by 49.1% during the fourth quarter. Millennium Management LLC now owns 1,145,347 shares of the medical equipment provider’s stock valued at $29,733,000 after purchasing an additional 377,111 shares during the period. 93.24% of the stock is owned by hedge funds and other institutional investors.

BioLife Solutions Trading Down 7.0 %

BLFS opened at $20.88 on Thursday. The company has a fifty day moving average price of $25.87 and a two-hundred day moving average price of $25.50. BioLife Solutions has a 1-year low of $14.84 and a 1-year 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 company has a current ratio of 2.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

BioLife Solutions (NASDAQ:BLFS) last issued its earnings results on Monday, March 3rd. The medical equipment provider reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.32. The business had revenue of $22.71 million during the quarter, compared to analyst estimates 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 in the previous year, the company posted ($0.21) EPS. Analysts predict that BioLife Solutions will post -0.3 EPS for the current fiscal 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.