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

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

Several research firms have weighed in on BLFS. HC Wainwright reiterated a "buy" rating and issued a $30.00 target price 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 research report on Wednesday, May 21st.

BioLife Solutions Price Performance

NASDAQ BLFS traded down $1.17 on Friday, reaching $20.85. The company's stock had a trading volume of 280,916 shares, compared to its average volume of 419,012. The firm has a market cap of $997.31 million, a PE ratio of -71.96 and a beta of 1.79. The business has a 50-day moving average price of $22.31 and a 200 day moving average price of $24.30. BioLife Solutions has a 52 week low of $19.10 and a 52 week high of $29.55. The company has a current ratio of 4.73, a quick ratio of 3.74 and a debt-to-equity ratio of 0.01.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last posted its 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 business had revenue of $23.94 million for the quarter, compared to analysts' expectations of $22.22 million. BioLife Solutions had a negative net margin of 11.81% and a negative return on equity of 0.66%. Sell-side analysts expect that BioLife Solutions will post -0.3 EPS for the current year.

Insiders Place Their Bets

In other BioLife Solutions 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 transaction of $23,800,000.00. Following the sale, the insider directly owned 7,707,165 shares of the company's stock, valued at $183,430,527. The trade was a 11.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 1,007,716 shares of company stock worth $23,975,998. 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 BLFS. Sei Investments Co. boosted its holdings in BioLife Solutions by 0.5% in the 1st quarter. Sei Investments Co. now owns 117,999 shares of the medical equipment provider's stock worth $2,695,000 after buying an additional 547 shares during the period. Rhumbline Advisers lifted 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 worth $1,901,000 after acquiring an additional 566 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of BioLife Solutions by 18.6% during the first quarter. GAMMA Investing LLC now owns 4,223 shares of the medical equipment provider's stock worth $96,000 after acquiring an additional 663 shares in the last quarter. 1620 Investment Advisors Inc. lifted its position 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 acquiring an additional 675 shares in the last quarter. Finally, Comerica Bank lifted its position in shares of BioLife Solutions by 5.2% during the first quarter. Comerica Bank now owns 15,024 shares of the medical equipment provider's stock worth $343,000 after acquiring an additional 746 shares in the last quarter. 93.24% of the stock is currently owned by hedge funds and other 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.