BioLife Solutions, Inc. (NASDAQ:BLFS) Stock Has Average Target Price of $31.38

Key Points

• Analysts maintain a “Hold” consensus on BioLife Solutions, with 10 hold ratings and one buy; the average 12-month price target is $31.38.
• The stock opened at $38.61, near its 12-month high of $39.76 and well above the analyst target range, while institutional investors own 93.24% of outstanding shares.
• BioLife Solutions exceeded quarterly expectations, reporting $0.91 in EPS versus the $0.03 consensus estimate and revenue of $28.47 million versus $27.80 million expected.

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report) have earned a consensus recommendation of "Hold" from the eleven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $31.38.

Several equities research analysts have recently issued reports on the company. TD Cowen lowered BioLife Solutions from a "buy" rating to a "hold" rating and reduced their price target for the company from $33.00 to $31.00 in a report on Wednesday, July 22nd. Jefferies Financial Group downgraded BioLife Solutions from a "buy" rating to a "hold" rating and increased their price objective for the stock from $30.00 to $31.00 in a report on Thursday, July 23rd. Benchmark downgraded BioLife Solutions from a "buy" rating to a "hold" rating in a report on Monday, August 10th. Stephens lowered shares of BioLife Solutions from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $32.00 to $31.00 in a research report on Monday, July 27th. Finally, Craig Hallum cut shares of BioLife Solutions from a "buy" rating to a "hold" rating and set a $31.00 target price for the company. in a research note on Wednesday, July 22nd.

BioLife Solutions Price Performance

BioLife Solutions stock opened at $38.61 on Friday. The company's fifty day simple moving average is $37.50 and its 200-day simple moving average is $27.88. BioLife Solutions has a 12 month low of $17.86 and a 12 month high of $39.76. The stock has a market cap of $1.89 billion, a P/E ratio of 33.28 and a beta of 1.82.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. ProShare Advisors LLC bought a new stake in BioLife Solutions in the third quarter worth $683,000. Transmarket Holdings LP bought a new position in BioLife Solutions during the third quarter valued at about $5,366,000. Yousif Capital Management LLC raised its holdings in BioLife Solutions by 4.9% during the third quarter. Yousif Capital Management LLC now owns 11,097 shares of the medical equipment provider's stock valued at $431,000 after buying an additional 520 shares in the last quarter. Kings Path Partners LLC bought a new position in BioLife Solutions during the third quarter valued at about $644,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of BioLife Solutions by 13.3% in the third quarter. Nisa Investment Advisors LLC now owns 2,209 shares of the medical equipment provider's stock worth $86,000 after buying an additional 260 shares during the last quarter. Institutional investors own 93.24% of the company's stock.

BioLife Solutions Company Profile

BioLife Solutions, Inc develops and supplies products and services used to preserve, process, store and transport biological materials. Its solutions support the development and manufacture of cell and gene therapies, including products designed to help maintain the viability and functionality of cells, tissues and other biologic materials throughout the bioprocessing workflow.

The company's portfolio includes preservation media such as CryoStor and HypoThermosol, cell thawing and handling products, and related storage and shipping systems.

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