BioLife Solutions, Inc. (NASDAQ:BLFS) Receives $31.29 Consensus Target Price from Brokerages

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) have earned a consensus recommendation of “Buy” from the eight ratings firms that are covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $31.2857.

BLFS has been the topic of several recent analyst reports. HC Wainwright restated a “buy” rating and issued a $32.00 target price (up previously from $30.00) on shares of BioLife Solutions in a report on Friday, August 8th. Zacks Research upgraded shares of BioLife Solutions to a “strong-buy” rating in a report on Monday, August 11th. Finally, Stephens started coverage on shares of BioLife Solutions in a report on Tuesday, July 22nd. They set an “overweight” rating and a $30.00 price objective on the stock.

Insider Activity

In other news, CFO Troy Wichterman sold 1,032 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $26.83, for a total transaction of $27,688.56. Following the transaction, the chief financial officer owned 184,186 shares in the company, valued at approximately $4,941,710.38. This represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Casdin Partners Master Fund, L sold 500,000 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $24.40, for a total transaction of $12,200,000.00. Following the transaction, the insider owned 6,707,165 shares in the company, valued at $163,654,826. This represents a 6.94% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,019,198 shares of company stock worth $23,981,317. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On BioLife Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in BLFS. T. Rowe Price Investment Management Inc. bought a new stake in BioLife Solutions in the 1st quarter worth about $30,789,000. Royal Bank of Canada grew its position in BioLife Solutions by 762.8% in the 1st quarter. Royal Bank of Canada now owns 698,251 shares of the medical equipment provider’s stock worth $15,948,000 after purchasing an additional 617,320 shares in the last quarter. Invesco Ltd. grew its position in BioLife Solutions by 9.6% in the 1st quarter. Invesco Ltd. now owns 3,551,054 shares of the medical equipment provider’s stock worth $81,106,000 after purchasing an additional 311,585 shares in the last quarter. Qube Research & Technologies Ltd grew its position in BioLife Solutions by 2,399.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 248,474 shares of the medical equipment provider’s stock worth $5,352,000 after purchasing an additional 238,533 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its position in BioLife Solutions by 22.2% in the 2nd quarter. Mutual of America Capital Management LLC now owns 638,373 shares of the medical equipment provider’s stock worth $13,751,000 after purchasing an additional 115,963 shares in the last quarter. 93.24% of the stock is owned by institutional investors.

BioLife Solutions Stock Down 0.7%

BLFS stock opened at $24.52 on Thursday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -204.32 and a beta of 1.78. BioLife Solutions has a 12-month low of $19.10 and a 12-month high of $29.55. The company’s fifty day simple moving average is $24.25 and its 200 day simple moving average is $23.26.

BioLife Solutions (NASDAQ:BLFS) last released its earnings results on Thursday, August 7th. The medical equipment provider reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.31). The firm had revenue of $25.42 million during the quarter, compared to analyst estimates of $23.71 million. BioLife Solutions had a negative net margin of 5.39% and a positive return on equity of 0.16%. BioLife Solutions has set its FY 2025 guidance at EPS. Research analysts expect that BioLife Solutions will post -0.3 earnings per share for the current year.

BioLife Solutions Company Profile

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.