BioLife Solutions (NASDAQ:BLFS) Hits New 1-Year High - Here's What Happened

Key Points

• BioLife Solutions shares reached a new 52-week high of $39.01, up from the prior close of $38.49, giving the company a market capitalization of approximately $1.91 billion.
• Despite the stock’s rally, analysts remain cautious: ten analysts rate BLFS as a Hold and one rates it Buy, with a consensus price target of $31.38—well below the current price.
• The company reported quarterly EPS of $0.91, sharply exceeding the $0.03 consensus estimate, while revenue of $28.47 million also topped expectations. Institutional investors own 93.24% of the stock.

BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report) shares hit a new 52-week high during trading on Monday. The company traded as high as $39.01 and last traded at $39.00, with a volume of 175371 shares traded. The stock had previously closed at $38.49.

Analyst Ratings Changes

Several equities research analysts have weighed in on BLFS shares. Zacks Research lowered BioLife Solutions from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 21st. Benchmark downgraded shares of BioLife Solutions from a "buy" rating to a "hold" rating in a report on Monday, August 10th. Jefferies Financial Group lowered shares of BioLife Solutions from a "buy" rating to a "hold" rating and upped their price target for the stock from $30.00 to $31.00 in a research report on Thursday, July 23rd. William Blair set a $31.00 price objective on shares of BioLife Solutions in a report on Thursday, July 23rd. Finally, TD Cowen cut shares of BioLife Solutions from a "buy" rating to a "hold" rating and decreased their target price for the stock from $33.00 to $31.00 in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $31.38.

BioLife Solutions Price Performance

The firm's fifty day moving average is $34.81 and its two-hundred day moving average is $27.40. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 33.83 and a beta of 1.91.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last released its earnings results on Thursday, August 6th. The medical equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.03 by $0.88. The firm had revenue of $28.47 million for 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%. On average, equities analysts forecast that BioLife Solutions, Inc. will post 0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BioLife Solutions

A number of institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of BioLife Solutions by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,035,757 shares of the medical equipment provider's stock valued at $19,761,000 after purchasing an additional 10,587 shares during the period. Bank of America Corp DE grew its holdings in 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 worth $17,250,000 after acquiring an additional 382,776 shares during the period. Royal Bank of Canada raised its position in BioLife Solutions by 8.1% in the first quarter. Royal Bank of Canada now owns 885,298 shares of the medical equipment provider's stock worth $16,891,000 after acquiring an additional 66,010 shares in the last quarter. Granahan Investment Management LLC lifted its holdings in BioLife Solutions by 49.7% in the 1st quarter. Granahan Investment Management LLC now owns 722,057 shares of the medical equipment provider's stock valued at $13,777,000 after acquiring an additional 239,701 shares during the last quarter. Finally, Stephens Investment Management Group LLC lifted its holdings in BioLife Solutions by 10.9% in the 1st quarter. Stephens Investment Management Group LLC now owns 673,129 shares of the medical equipment provider's stock valued at $12,843,000 after acquiring an additional 66,242 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

About BioLife Solutions

BioLife Solutions, Inc develops and supplies tools and services used in the development, manufacture, preservation and distribution of cell and gene therapies. Its products are designed to help maintain the viability and functionality of cells, tissues and other biological materials during processing, freezing, storage and transportation.

The company's portfolio includes cell and tissue preservation media, thawing and processing solutions, cryogenic storage systems, controlled-rate freezing equipment and related bioproduction technologies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.