Analysts Set BioLife Solutions, Inc. (NASDAQ:BLFS) Target Price at $31.17

BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report) has received an average rating of "Buy" from the six research firms that are covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have issued a report on the stock in the last year is $31.17.

BLFS has been the subject of several analyst reports. HC Wainwright restated a "buy" rating and issued a $30.00 price objective on shares of BioLife Solutions in a research note on Tuesday, May 13th. Wall Street Zen lowered BioLife Solutions from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st.

BioLife Solutions Stock Performance

NASDAQ:BLFS traded down $0.32 on Tuesday, hitting $21.20. The stock had a trading volume of 178,187 shares, compared to its average volume of 407,739. The business's 50-day simple moving average is $22.72 and its two-hundred day simple moving average is $24.81. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -73.26 and a beta of 1.82. BioLife Solutions has a 52-week low of $18.70 and a 52-week high of $29.55. The company has a quick ratio of 3.74, a current ratio of 4.73 and a debt-to-equity ratio of 0.01.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The medical equipment provider reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.03) by $0.07. BioLife Solutions had a negative net margin of 11.81% and a negative return on equity of 0.66%. The company had revenue of $23.94 million for the quarter, compared to the consensus estimate of $22.22 million. As a group, research analysts predict that BioLife Solutions will post -0.3 earnings per share for the current year.

Insider Activity

In other news, CMO Todd Berard sold 8,902 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $22.66, for a total value of $201,719.32. Following the completion of the transaction, the chief marketing officer now owns 135,956 shares of the company's stock, valued at $3,080,762.96. This represents a 6.15% 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 BioLife Solutions 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 in the company, valued at $1,814,930.04. This trade represents a 6.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,058,385 shares of company stock worth $25,119,871 in the last three months. Company insiders own 2.20% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its position in shares of BioLife Solutions by 0.7% during the first quarter. Rhumbline Advisers now owns 83,227 shares of the medical equipment provider's stock valued at $1,901,000 after buying an additional 566 shares during the last quarter. Strs Ohio bought a new stake in BioLife Solutions in the 1st quarter valued at $153,000. Jane Street Group LLC bought a new stake in BioLife Solutions in the 1st quarter valued at $1,091,000. Uniplan Investment Counsel Inc. lifted its stake in BioLife Solutions by 0.8% in the 1st quarter. Uniplan Investment Counsel Inc. now owns 247,378 shares of the medical equipment provider's stock worth $5,650,000 after purchasing an additional 1,861 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of BioLife Solutions by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,422 shares of the medical equipment provider's stock valued at $489,000 after purchasing an additional 914 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors.

BioLife Solutions Company Profile

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.