Brokerages Set BioLife Solutions, Inc. (NASDAQ:BLFS) Target Price at $23.67

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report) have received an average rating of "Buy" from the five brokerages that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $23.67.

BLFS has been the subject of a number of analyst reports. Jefferies Financial Group started coverage on BioLife Solutions in a research report on Thursday, April 4th. They set a "buy" rating and a $22.00 price objective for the company. Benchmark upgraded BioLife Solutions from a "neutral" rating to a "buy" rating and set a $25.00 target price on the stock in a research report on Monday. Finally, StockNews.com raised BioLife Solutions to a "sell" rating in a research report on Friday.

BioLife Solutions Trading Up 5.7 %

Shares of BLFS traded up $1.12 during midday trading on Monday, hitting $20.66. 640,691 shares of the stock were exchanged, compared to its average volume of 428,244. The firm has a market cap of $935.90 million, a P/E ratio of -14.85 and a beta of 1.69. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.00 and a current ratio of 2.89. The stock has a fifty day simple moving average of $17.48 and a 200 day simple moving average of $15.99. BioLife Solutions has a 52-week low of $8.92 and a 52-week high of $24.50.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last issued its quarterly earnings results on Thursday, May 9th. The medical equipment provider reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.06. The company had revenue of $31.73 million during the quarter, compared to analysts' expectations of $29.30 million. BioLife Solutions had a negative net margin of 45.84% and a negative return on equity of 12.89%. During the same quarter last year, the company posted ($0.27) EPS. On average, research analysts anticipate that BioLife Solutions will post -0.6 EPS for the current fiscal year.

Insider Activity at BioLife Solutions

In other BioLife Solutions news, Director Amy Duross sold 6,135 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $16.86, for a total transaction of $103,436.10. Following the completion of the sale, the director now directly owns 34,508 shares of the company's stock, valued at approximately $581,804.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other BioLife Solutions news, CEO Greef Roderick De sold 7,249 shares of the company's stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $16.60, for a total transaction of $120,333.40. Following the completion of the transaction, the chief executive officer now owns 461,854 shares in the company, valued at approximately $7,666,776.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Amy Duross sold 6,135 shares of the business's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $16.86, for a total transaction of $103,436.10. Following the transaction, the director now owns 34,508 shares in the company, valued at $581,804.88. The disclosure for this sale can be found here. Insiders have sold 33,996 shares of company stock worth $562,145 in the last quarter. Company insiders own 2.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC boosted its position in shares of BioLife Solutions by 167.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,630 shares of the medical equipment provider's stock worth $26,000 after purchasing an additional 1,020 shares in the last quarter. GAMMA Investing LLC purchased a new position in BioLife Solutions in the fourth quarter valued at about $41,000. Register Financial Advisors LLC purchased a new position in BioLife Solutions in the first quarter valued at about $96,000. Allspring Global Investments Holdings LLC lifted its position in shares of BioLife Solutions by 88.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 11,346 shares of the medical equipment provider's stock valued at $157,000 after acquiring an additional 5,324 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of BioLife Solutions by 8.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,622 shares of the medical equipment provider's stock worth $216,000 after acquiring an additional 1,164 shares in the last quarter. Institutional investors and hedge funds own 93.24% of the company's stock.

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.