BioLife Solutions, Inc. (NASDAQ:BLFS) Given Average Recommendation of "Buy" by Brokerages

BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report) has been given an average recommendation of "Buy" by the six analysts that are presently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have covered the stock in the last year is $31.17.

A number of equities analysts have issued reports on BLFS shares. Northland Securities lifted their price target on BioLife Solutions from $28.00 to $31.00 and gave the company an "outperform" rating in a research note on Wednesday, January 8th. StockNews.com lowered BioLife Solutions from a "hold" rating to a "sell" rating in a report on Thursday, April 24th. Finally, HC Wainwright upped their price target on BioLife Solutions from $27.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, March 6th.

BioLife Solutions Stock Up 2.5 %

BioLife Solutions stock traded up $0.61 during mid-day trading on Monday, reaching $25.21. The stock had a trading volume of 33,298 shares, compared to its average volume of 376,071. The firm has a market capitalization of $1.20 billion, a PE ratio of -23.83 and a beta of 1.93. BioLife Solutions has a fifty-two week low of $17.15 and a fifty-two week high of $29.55. The stock's 50-day simple moving average is $24.01 and its 200-day simple moving average is $25.27. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.78.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last announced its quarterly 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. BioLife Solutions had a negative net margin of 38.98% and a negative return on equity of 6.61%. The business had revenue of $22.71 million during the quarter, compared to analyst estimates of $21.73 million. During the same quarter in the previous year, the business posted ($0.21) EPS. On average, sell-side analysts forecast that BioLife Solutions will post -0.3 EPS for the current fiscal year.

Insider Activity

In other news, EVP Aby J. Mathew sold 1,597 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $25.00, for a total transaction of $39,925.00. Following the completion of the sale, the executive vice president now owns 260,601 shares in the company, valued at $6,515,025. This trade represents a 0.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sarah Aebersold sold 2,695 shares of BioLife Solutions stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $25.44, for a total transaction of $68,560.80. Following the completion of the sale, the insider now directly owns 43,165 shares in the company, valued at $1,098,117.60. This trade represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,127 shares of company stock valued at $1,676,533 over the last three months. Corporate insiders own 2.20% of the company's stock.

Institutional Trading of BioLife Solutions

A number of large investors have recently bought and sold shares of BLFS. Stephens Investment Management Group LLC lifted its position in shares of BioLife Solutions by 0.3% during the 1st quarter. Stephens Investment Management Group LLC now owns 497,231 shares of the medical equipment provider's stock valued at $11,357,000 after buying an additional 1,261 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in BioLife Solutions by 14.3% during the first quarter. New York State Common Retirement Fund now owns 297,448 shares of the medical equipment provider's stock valued at $6,794,000 after purchasing an additional 37,133 shares during the last quarter. Cerity Partners LLC lifted its holdings in BioLife Solutions by 22.8% during the first quarter. Cerity Partners LLC now owns 48,603 shares of the medical equipment provider's stock valued at $1,110,000 after purchasing an additional 9,015 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in BioLife Solutions by 37.6% during the first quarter. Envestnet Asset Management Inc. now owns 273,329 shares of the medical equipment provider's stock worth $6,243,000 after purchasing an additional 74,634 shares during the period. Finally, Palisade Capital Management LP increased its stake in shares of BioLife Solutions by 13.7% in the first quarter. Palisade Capital Management LP now owns 947,085 shares of the medical equipment provider's stock worth $21,631,000 after purchasing an additional 113,937 shares in the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

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.