BioLife Solutions, Inc. (NASDAQ:BLFS) Receives Average Rating of "Buy" from Brokerages

Key Points

• BioLife Solutions, Inc. (NASDAQ:BLFS) has received a consensus rating of "Buy" from seven analysts, with an average one-year price target of $31.00.
• Despite this positive outlook, the stock recently saw a 0.8% decline, opening at $20.73 with a 52-week price range between $19.10 and $29.55.
• Significant insider activity includes major shareholder Casdin Partners Master Fund, L, selling 1,000,000 shares for approximately $23.8 million, resulting in an 11.48% decrease in their holdings.

BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report) has been given a consensus recommendation of "Buy" by the seven research firms that are covering the firm, Marketbeat reports. Seven analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have covered the stock in the last year is $31.00.

A number of equities analysts have issued reports on the company. Stephens began coverage on BioLife Solutions in a report on Tuesday, July 22nd. They set an "overweight" rating and a $30.00 price target on the stock. HC Wainwright restated a "buy" rating and issued a $30.00 target price on shares of BioLife Solutions in a research note on Tuesday, May 13th. Finally, Wall Street Zen downgraded shares of BioLife Solutions from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st.

Insider Activity at BioLife Solutions

In related news, major shareholder Casdin Partners Master Fund, L sold 1,000,000 shares of the business'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 completion of the transaction, the insider directly owned 7,707,165 shares in the company, valued at $183,430,527. The trade was a 11.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 1,008,831 shares of company stock worth $23,999,658 in the last 90 days. Corporate insiders own 2.20% of the company's stock.

Institutional Trading of BioLife Solutions

Several large investors have recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS purchased a new stake in BioLife Solutions in the 4th quarter worth $171,000. LPL Financial LLC boosted its position in BioLife Solutions by 13.2% in the 4th quarter. LPL Financial LLC now owns 45,488 shares of the medical equipment provider's stock valued at $1,181,000 after buying an additional 5,308 shares during the period. Alliancebernstein L.P. increased its stake in shares of BioLife Solutions by 11.9% during the fourth quarter. Alliancebernstein L.P. now owns 37,351 shares of the medical equipment provider's stock valued at $970,000 after buying an additional 3,967 shares during the period. Wells Fargo & Company MN lifted its stake in shares of BioLife Solutions by 5.4% during the 4th quarter. Wells Fargo & Company MN now owns 104,493 shares of the medical equipment provider's stock worth $2,713,000 after purchasing an additional 5,322 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in BioLife Solutions by 18.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 198,695 shares of the medical equipment provider's stock worth $5,158,000 after purchasing an additional 31,167 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors.

BioLife Solutions Stock Performance

Shares of BLFS traded down $0.45 during mid-day trading on Wednesday, reaching $20.64. The company's stock had a trading volume of 458,242 shares, compared to its average volume of 465,262. The company has a current ratio of 4.73, a quick ratio of 3.74 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $21.93 and a two-hundred day simple moving average of $23.69. BioLife Solutions has a 1-year low of $19.10 and a 1-year high of $29.55. The stock has a market cap of $987.21 million, a P/E ratio of -71.17 and a beta of 1.76.

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

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.