BioLife Solutions, Inc. (NASDAQ:BLFS) Receives Consensus Recommendation of "Buy" from Analysts

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report) have earned an average recommendation of "Buy" from the six analysts that are presently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have covered the stock in the last year is $31.17.

BLFS has been the topic of a number of research analyst reports. HC Wainwright reissued a "buy" rating and set a $30.00 price objective on shares of BioLife Solutions in a report on Tuesday, May 13th. Wall Street Zen downgraded shares of BioLife Solutions from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st.

Insider Buying and Selling

In other news, major shareholder Casdin Partners Master Fund, L sold 1,000,000 shares of BioLife Solutions stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $23.80, for a total transaction of $23,800,000.00. Following the completion of the sale, the insider owned 7,707,165 shares of the company's stock, valued at approximately $183,430,527. This trade represents a 11.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 1,007,716 shares of company stock worth $23,975,998 over the last three months. Insiders own 2.20% of the company's stock.

Institutional Investors Weigh In On BioLife Solutions

Hedge funds and other institutional investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC acquired a new stake in shares of BioLife Solutions during the fourth quarter worth $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of BioLife Solutions during the fourth quarter worth $31,000. State of Wyoming lifted its holdings in shares of BioLife Solutions by 353.1% during the first quarter. State of Wyoming now owns 1,912 shares of the medical equipment provider's stock worth $44,000 after buying an additional 1,490 shares in the last quarter. US Bancorp DE lifted its holdings in shares of BioLife Solutions by 243.7% during the first quarter. US Bancorp DE now owns 2,155 shares of the medical equipment provider's stock worth $49,000 after buying an additional 1,528 shares in the last quarter. Finally, 1620 Investment Advisors Inc. lifted its holdings in shares of BioLife Solutions by 41.7% during the fourth quarter. 1620 Investment Advisors Inc. now owns 2,295 shares of the medical equipment provider's stock worth $60,000 after buying an additional 675 shares in the last quarter. Institutional investors and hedge funds own 93.24% of the company's stock.

BioLife Solutions Price Performance

BioLife Solutions stock opened at $21.95 on Friday. The company's 50 day simple moving average is $22.31 and its 200-day simple moving average is $24.33. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -75.69 and a beta of 1.79. BioLife Solutions has a 1 year low of $19.10 and a 1 year high of $29.55. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.74 and a current ratio of 4.73.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The medical equipment provider reported $0.04 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $22.22 million. 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.

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