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

Key Points

• Analysts maintain a “Hold” consensus on BioLife Solutions, with eight hold ratings, one sell, one buy and one strong buy among 11 analysts. The average 12-month price target is $31.38, below the stock’s reported $34.93 price.
• Recent broker actions were generally cautious: Craig Hallum, Jefferies and HC Wainwright downgraded the stock, while most price targets converged around $31.
• BioLife Solutions exceeded quarterly expectations, reporting $0.91 EPS versus a $0.03 consensus estimate and $28.47 million in revenue versus $27.80 million expected. Institutional investors own a significant 93.24% of the company’s shares.

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report) have been assigned an average recommendation of "Hold" from the eleven brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $31.3750.

BLFS has been the subject of several recent analyst reports. Craig Hallum downgraded shares of BioLife Solutions from a "buy" rating to a "hold" rating and set a $31.00 target price for the company. in a report on Wednesday, July 22nd. Jefferies Financial Group cut BioLife Solutions from a "buy" rating to a "hold" rating and raised their price target for the company from $30.00 to $31.00 in a report on Thursday, July 23rd. HC Wainwright downgraded BioLife Solutions from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $32.00 to $31.00 in a research report on Thursday, July 23rd. Stephens reaffirmed an "equal weight" rating and issued a $31.00 price objective (down from $32.00) on shares of BioLife Solutions in a research note on Monday, July 27th. Finally, William Blair set a $31.00 target price on BioLife Solutions in a research report on Thursday, July 23rd.

BioLife Solutions Trading Down 1.3%

NASDAQ BLFS opened at $34.93 on Thursday. BioLife Solutions has a 12 month low of $17.86 and a 12 month high of $38.10. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 30.11 and a beta of 1.91. The company's 50 day moving average is $32.79 and its two-hundred day moving average is $26.13.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.88. The business had revenue of $28.47 million during the quarter, compared to analyst estimates of $27.80 million. BioLife Solutions had a net margin of 53.29% and a return on equity of 2.70%. Sell-side analysts forecast that BioLife Solutions will post 0.03 EPS for the current year.

Institutional Investors Weigh In On BioLife Solutions

Institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System grew its stake in BioLife Solutions by 3,057.9% during the second quarter. California State Teachers Retirement System now owns 1,215,252 shares of the medical equipment provider's stock valued at $34,319,000 after acquiring an additional 1,176,769 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of BioLife Solutions by 27.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,180,824 shares of the medical equipment provider's stock valued at $125,273,000 after purchasing an additional 1,113,972 shares during the last quarter. Bank of America Corp DE grew its position in shares of BioLife Solutions by 73.4% during the first quarter. Bank of America Corp DE now owns 904,103 shares of the medical equipment provider's stock valued at $17,250,000 after purchasing an additional 382,776 shares in the last quarter. Invesco Ltd. grew its position in shares of BioLife Solutions by 9.2% during the fourth quarter. Invesco Ltd. now owns 3,932,191 shares of the medical equipment provider's stock valued at $95,080,000 after purchasing an additional 332,747 shares in the last quarter. Finally, Granahan Investment Management LLC increased its holdings in shares of BioLife Solutions by 49.7% in the first quarter. Granahan Investment Management LLC now owns 722,057 shares of the medical equipment provider's stock worth $13,777,000 after purchasing an additional 239,701 shares during the last quarter. Institutional investors own 93.24% of the company's stock.

About BioLife Solutions

BioLife Solutions NASDAQ: BLFS specializes in biopreservation and cold chain workflow solutions for cell and gene therapies, regenerative medicine and other advanced biologics. The company develops and markets proprietary cryopreservation media and technology platforms designed to maintain cell viability and functionality during processing, storage and transport. BioLife's product portfolio addresses critical steps in the manufacturing and distribution of cell-based products, helping life science researchers and biopharmaceutical manufacturers protect and preserve living cells.

The company's flagship offerings include CryoStor, a family of serum-free cryopreservation media; HypoThermosol, a hypothermic storage solution for short-term cell and tissue preservation; and the ThawSTAR system, an automated cell thawing instrument that delivers controlled and reproducible warming of frozen cell therapies.

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