BioLife Solutions, Inc. (NASDAQ:BLFS) Stock Has Consensus Target Price of $31.38 According to Brokerages

Key Points

• Analyst sentiment is cautious: BioLife Solutions has a consensus “Hold” rating from 11 analysts—10 holds and one buy—with an average 12-month price target of $31.38.
• Shares are trading above the consensus target: BLFS opened at $37.30, compared with its $31.38 average price objective; the stock has traded between $17.86 and $39.76 over the past year.
• Recent earnings exceeded expectations: The company reported quarterly EPS of $0.91 versus the $0.03 consensus estimate and revenue of $28.47 million, above expectations of $27.80 million. Institutional investors own 93.24% of the stock.

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report) have earned an average rating of "Hold" from the eleven analysts that are presently covering the firm, Marketbeat.com reports. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $31.38.

Several equities research analysts have issued reports on BLFS shares. Benchmark downgraded shares of BioLife Solutions from a "buy" rating to a "hold" rating in a research report on Monday, August 10th. William Blair set a $31.00 target price on BioLife Solutions in a research report on Thursday, July 23rd. Stephens reiterated an "equal weight" rating and set a $31.00 target price (down from $32.00) on shares of BioLife Solutions in a research note on Monday, July 27th. Zacks Research lowered BioLife Solutions from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 21st. Finally, Wall Street Zen cut BioLife Solutions from a "buy" rating to a "hold" rating in a report on Saturday, July 25th.

BioLife Solutions Stock Performance

BLFS opened at $37.30 on Monday. The stock's fifty day simple moving average is $35.63 and its 200 day simple moving average is $28.09. BioLife Solutions has a 1-year low of $17.86 and a 1-year high of $39.76. The stock has a market cap of $1.82 billion, a PE ratio of 32.16 and a beta of 1.82.

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

Institutional Investors Weigh In On BioLife Solutions

Hedge funds and other institutional investors have recently modified their holdings of the company. State of Wyoming bought a new position in shares of BioLife Solutions during the first quarter worth approximately $52,000. WINTON GROUP Ltd bought a new stake in shares of BioLife Solutions in the second quarter valued at approximately $201,000. AXQ Capital LP acquired a new stake in BioLife Solutions during the second quarter worth approximately $203,000. GAMMA Investing LLC grew its position in BioLife Solutions by 36.6% during the second quarter. GAMMA Investing LLC now owns 8,996 shares of the medical equipment provider's stock worth $254,000 after buying an additional 2,410 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in BioLife Solutions by 26.8% during the 1st quarter. Cetera Investment Advisers now owns 11,614 shares of the medical equipment provider's stock worth $222,000 after acquiring an additional 2,458 shares during the period. Institutional investors and hedge funds own 93.24% of the company's stock.

About BioLife Solutions

BioLife Solutions, Inc is a life sciences technology company that develops and supplies products used to preserve, store, process and transport cells and tissues. Its solutions support the development and commercialization of cell and gene therapies, as well as other biological materials that require controlled temperature and handling conditions.

The company's product portfolio includes biopreservation media such as CryoStor and HypoThermosol, cryogenic storage bags and containers, controlled-rate freezing systems, automated thawing equipment and related laboratory tools.

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