BioLife Solutions (NASDAQ:BLFS) Price Target Raised to $31.00 at Northland Securities

BioLife Solutions (NASDAQ:BLFS) had its price objective upped by research analysts at Northland Securities from $28.00 to $31.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the medical equipment provider’s stock. Northland Securities’ price objective indicates a potential upside of 14.35% from the company’s current price.

Several other analysts have also recently commented on the company. Craig Hallum raised their target price on BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. TD Cowen raised their price target on BioLife Solutions from $28.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. KeyCorp upped their price objective on shares of BioLife Solutions from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. HC Wainwright decreased their target price on shares of BioLife Solutions from $29.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, November 18th. Finally, Benchmark restated a “buy” rating and set a $30.00 price target on shares of BioLife Solutions in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.43.

BioLife Solutions Price Performance

Shares of NASDAQ:BLFS opened at $27.11 on Wednesday. The firm’s 50 day moving average is $25.83 and its two-hundred day moving average is $24.25. The firm has a market capitalization of $1.26 billion, a P/E ratio of -25.58 and a beta of 1.92. 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 has a 52 week low of $14.50 and a 52 week high of $28.88.

Insider Buying and Selling at BioLife Solutions

In related news, EVP Aby J. Mathew sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $21.17, for a total value of $529,250.00. Following the sale, the executive vice president now directly owns 302,046 shares in the company, valued at $6,394,313.82. The trade was a 7.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders sold 64,259 shares of company stock valued at $1,424,708. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its stake in shares of BioLife Solutions by 3.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 275,570 shares of the medical equipment provider’s stock worth $5,905,000 after acquiring an additional 8,216 shares in the last quarter. Rhumbline Advisers boosted its position in shares of BioLife Solutions by 4.7% in the 2nd quarter. Rhumbline Advisers now owns 87,473 shares of the medical equipment provider’s stock valued at $1,875,000 after purchasing an additional 3,912 shares during the period. Arizona State Retirement System purchased a new position in BioLife Solutions in the 2nd quarter worth about $217,000. Los Angeles Capital Management LLC acquired a new stake in BioLife Solutions during the 2nd quarter worth about $430,000. Finally, Texas Permanent School Fund Corp raised its holdings in BioLife Solutions by 8.7% during the 2nd quarter. Texas Permanent School Fund Corp now owns 33,859 shares of the medical equipment provider’s stock worth $726,000 after buying an additional 2,714 shares during the period. Institutional investors and hedge funds 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.