BioLife Solutions (NASDAQ:BLFS) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright began coverage on shares of BioLife Solutions (NASDAQ:BLFS) in a research note published on Monday, MarketBeat reports. The brokerage issued a buy rating and a $29.00 price target on the medical equipment provider’s stock. HC Wainwright also issued estimates for BioLife Solutions’ Q3 2024 earnings at ($0.09) EPS, Q4 2024 earnings at ($0.09) EPS, FY2024 earnings at ($0.56) EPS and FY2025 earnings at ($0.37) EPS.

A number of other analysts also recently issued reports on BLFS. Craig Hallum lifted their price target on BioLife Solutions from $23.00 to $30.00 and gave the company a buy rating in a research report on Monday, August 12th. TD Cowen lifted their price target on BioLife Solutions from $20.00 to $26.00 and gave the company a buy rating in a research report on Wednesday, July 17th. Finally, Northland Securities lifted their price target on BioLife Solutions from $26.00 to $28.00 and gave the company an outperform rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $26.67.

BioLife Solutions Stock Up 0.6 %

BLFS stock opened at $24.29 on Monday. The company has a quick ratio of 1.81, a current ratio of 2.86 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $1.12 billion, a PE ratio of -16.97 and a beta of 1.87. BioLife Solutions has a twelve month low of $8.92 and a twelve month high of $26.73. The stock has a 50-day simple moving average of $24.54 and a two-hundred day simple moving average of $21.32.

BioLife Solutions (NASDAQ:BLFS) last posted its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.08. The business had revenue of $28.33 million during the quarter, compared to analyst estimates of $23.80 million. BioLife Solutions had a negative return on equity of 10.75% and a negative net margin of 59.88%. On average, equities analysts predict that BioLife Solutions will post -0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Aby J. Mathew sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $23.90, for a total transaction of $239,000.00. Following the transaction, the executive vice president now directly owns 317,716 shares of the company’s stock, valued at $7,593,412.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other BioLife Solutions news, CRO Garrie Richardson sold 3,070 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $25.12, for a total value of $77,118.40. Following the transaction, the executive now owns 114,773 shares of the company’s stock, valued at $2,883,097.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Aby J. Mathew sold 10,000 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total value of $239,000.00. Following the completion of the transaction, the executive vice president now directly owns 317,716 shares in the company, valued at approximately $7,593,412.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,944 shares of company stock valued at $405,619. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of BioLife Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Conestoga Capital Advisors LLC grew its position in shares of BioLife Solutions by 1.0% during the first quarter. Conestoga Capital Advisors LLC now owns 65,477 shares of the medical equipment provider’s stock worth $1,215,000 after purchasing an additional 630 shares in the last quarter. Louisiana State Employees Retirement System grew its position in shares of BioLife Solutions by 4.0% during the second quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the medical equipment provider’s stock worth $392,000 after purchasing an additional 700 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of BioLife Solutions by 5.8% during the second quarter. The Manufacturers Life Insurance Company now owns 13,825 shares of the medical equipment provider’s stock worth $296,000 after purchasing an additional 753 shares in the last quarter. Sei Investments Co. grew its holdings in BioLife Solutions by 1.4% during the 1st quarter. Sei Investments Co. now owns 60,191 shares of the medical equipment provider’s stock valued at $1,117,000 after buying an additional 839 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in BioLife Solutions by 10.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,129 shares of the medical equipment provider’s stock worth $281,000 after acquiring an additional 1,374 shares during the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

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.