BioLife Solutions, Inc. (NASDAQ:BLFS) Receives $31.29 Consensus PT from Brokerages

Key Points

• BioLife Solutions, Inc. has received an average recommendation of "Buy" from eight brokerages, with a 12-month target price of $31.29.
• Recent analyst reports have seen adjustments in ratings, including a strong-buy from Zacks Research and a price objective increase from HC Wainwright to $32.00.
• Insider transactions disclosed include a 10,000 share sale by CMO Todd Berard and a 500,000 share sale by major shareholder Casdin Partners Master Fund, reflecting significant shifts in ownership levels.

BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report) has been assigned a consensus rating of "Buy" from the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $31.2857.

Several analysts have issued reports on the company. Zacks Research upgraded BioLife Solutions to a "strong-buy" rating in a research note on Monday, August 11th. HC Wainwright reaffirmed a "buy" rating and set a $32.00 target price (up from $30.00) on shares of BioLife Solutions in a report on Friday, August 8th. Stephens began coverage on BioLife Solutions in a report on Tuesday, July 22nd. They set an "overweight" rating and a $30.00 target price for the company. Finally, Wall Street Zen lowered BioLife Solutions from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st.

Insider Activity at BioLife Solutions

In other news, CMO Todd Berard sold 10,000 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $25.53, for a total transaction of $255,300.00. Following the completion of the transaction, the chief marketing officer directly owned 124,618 shares of the company's stock, valued at approximately $3,181,497.54. This represents a 7.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Casdin Partners Master Fund, L sold 1,000,000 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $23.80, for a total value of $23,800,000.00. Following the transaction, the insider directly owned 7,707,165 shares of the company's stock, valued at $183,430,527. This trade represents a 11.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,019,020 shares of company stock valued at $47,765,813 over the last ninety days. Corporate insiders own 2.20% of the company's stock.

Hedge Funds Weigh In On BioLife Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. grew its holdings in BioLife Solutions by 0.8% in the 2nd quarter. Invesco Ltd. now owns 3,580,778 shares of the medical equipment provider's stock worth $77,130,000 after buying an additional 29,724 shares in the last quarter. Fred Alger Management LLC grew its holdings in BioLife Solutions by 1.0% in the 4th quarter. Fred Alger Management LLC now owns 1,594,221 shares of the medical equipment provider's stock worth $41,386,000 after buying an additional 16,274 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new position in BioLife Solutions in the 1st quarter worth approximately $30,789,000. Millennium Management LLC grew its holdings in BioLife Solutions by 49.1% in the 4th quarter. Millennium Management LLC now owns 1,145,347 shares of the medical equipment provider's stock worth $29,733,000 after buying an additional 377,111 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in BioLife Solutions by 11.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,080,371 shares of the medical equipment provider's stock worth $23,271,000 after buying an additional 109,959 shares in the last quarter. 93.24% of the stock is owned by institutional investors.

BioLife Solutions Trading Up 3.3%

NASDAQ BLFS traded up $0.83 on Friday, hitting $25.87. 406,482 shares of the stock traded hands, compared to its average volume of 586,206. The stock has a 50-day moving average of $23.00 and a 200 day moving average of $23.33. BioLife Solutions has a twelve month low of $19.10 and a twelve month high of $29.55. The company has a market capitalization of $1.24 billion, a P/E ratio of -215.57 and a beta of 1.78.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The medical equipment provider reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.31). BioLife Solutions had a negative net margin of 5.39% and a positive return on equity of 0.16%. The firm had revenue of $25.42 million for the quarter, compared to analyst estimates of $23.71 million. BioLife Solutions has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that BioLife Solutions will post -0.3 earnings per share for the current 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.