BioLife Solutions (NASDAQ:BLFS) Upgraded to Buy by BidaskClub

BioLife Solutions (NASDAQ:BLFS) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Monday, BidAskClub reports.

A number of other equities research analysts also recently issued reports on the stock. Maxim Group set a $26.00 price target on shares of BioLife Solutions and gave the company a “buy” rating in a research note on Tuesday, September 17th. Oppenheimer initiated coverage on shares of BioLife Solutions in a research note on Wednesday, November 20th. They set an “outperform” rating and a $22.00 price target on the stock. Northland Securities upped their price target on shares of BioLife Solutions from $18.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. ValuEngine raised shares of BioLife Solutions from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Zacks Investment Research downgraded shares of BioLife Solutions from a “buy” rating to a “hold” rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $19.00.

BLFS stock opened at $16.29 on Monday. BioLife Solutions has a one year low of $9.15 and a one year high of $22.44. The company’s fifty day moving average price is $16.42 and its 200-day moving average price is $17.67. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.33 and a current ratio of 6.49. The company has a market capitalization of $343.80 million, a PE ratio of 116.36, a price-to-earnings-growth ratio of 21.01 and a beta of 1.35.

In related news, VP Todd Berard sold 3,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $20.02, for a total transaction of $60,060.00. Following the sale, the vice president now owns 44,074 shares of the company’s stock, valued at $882,361.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Casdin Partners Master Fund, L purchased 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were acquired at an average cost of $15.15 per share, for a total transaction of $303,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 185,794 shares of company stock worth $3,426,112. 27.00% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in BioLife Solutions by 2.0% during the second quarter. Vanguard Group Inc. now owns 627,183 shares of the medical equipment provider’s stock valued at $10,631,000 after acquiring an additional 12,416 shares during the last quarter. Russell Investments Group Ltd. increased its position in BioLife Solutions by 94.8% during the third quarter. Russell Investments Group Ltd. now owns 582,843 shares of the medical equipment provider’s stock valued at $9,685,000 after acquiring an additional 283,603 shares during the last quarter. BlackRock Inc. increased its position in BioLife Solutions by 129.3% during the second quarter. BlackRock Inc. now owns 541,305 shares of the medical equipment provider’s stock valued at $9,177,000 after acquiring an additional 305,276 shares during the last quarter. Park West Asset Management LLC increased its position in BioLife Solutions by 1,577.3% during the second quarter. Park West Asset Management LLC now owns 344,255 shares of the medical equipment provider’s stock valued at $5,835,000 after acquiring an additional 323,731 shares during the last quarter. Finally, River & Mercantile Asset Management LLP bought a new position in BioLife Solutions during the second quarter valued at $3,807,000. Institutional investors and hedge funds own 50.22% of the company’s stock.

BioLife Solutions Company Profile

BioLife Solutions, Inc develops, manufactures, and markets grade cell and tissue hypothermic storage and cryopreservation freeze media products for cells, tissues, and organs in the United States. Its products are serum-free and protein-free solutions, which are formulated to reduce preservation-induced cell damage and death.

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Analyst Recommendations for BioLife Solutions (NASDAQ:BLFS)

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