Analysts Set BioLife Solutions, Inc. (NASDAQ:BLFS) Price Target at $32.00

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) have earned an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $32.00.

Several equities analysts recently weighed in on the stock. Zacks Research raised shares of BioLife Solutions from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. HC Wainwright reiterated a “buy” rating and set a $32.00 price target on shares of BioLife Solutions in a report on Monday, December 29th. Weiss Ratings restated a “sell (d-)” rating on shares of BioLife Solutions in a research note on Wednesday, January 21st. Wall Street Zen upgraded shares of BioLife Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Finally, UBS Group reiterated a “buy” rating on shares of BioLife Solutions in a research note on Monday, December 29th.

BioLife Solutions Stock Performance

Shares of BLFS opened at $21.50 on Monday. The firm has a market cap of $1.04 billion, a PE ratio of -195.44 and a beta of 2.00. The firm’s 50 day moving average price is $20.57 and its 200 day moving average price is $23.83. BioLife Solutions has a twelve month low of $17.86 and a twelve month high of $29.62.

Insiders Place Their Bets

In other BioLife Solutions news, insider Karen A. Foster sold 96,923 shares of BioLife Solutions stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $20.15, for a total transaction of $1,952,998.45. Following the sale, the insider owned 113,742 shares in the company, valued at $2,291,901.30. The trade was a 46.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 99,641 shares of company stock worth $2,009,000 in the last 90 days. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On BioLife Solutions

A number of institutional investors have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. boosted its stake in BioLife Solutions by 27.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,180,824 shares of the medical equipment provider’s stock worth $125,273,000 after buying an additional 1,113,972 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of BioLife Solutions by 9.2% during the fourth quarter. Invesco Ltd. now owns 3,932,191 shares of the medical equipment provider’s stock valued at $95,080,000 after acquiring an additional 332,747 shares during the period. Vanguard Group Inc. lifted its holdings in shares of BioLife Solutions by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 3,087,386 shares of the medical equipment provider’s stock valued at $74,653,000 after acquiring an additional 119,868 shares during the period. State Street Corp lifted its holdings in shares of BioLife Solutions by 3.4% during the fourth quarter. State Street Corp now owns 1,505,593 shares of the medical equipment provider’s stock valued at $36,405,000 after acquiring an additional 49,028 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of BioLife Solutions by 11.3% during the second quarter. Ameriprise Financial Inc. now owns 1,080,371 shares of the medical equipment provider’s stock valued at $23,271,000 after acquiring an additional 109,959 shares during the period. Institutional investors and hedge funds own 93.24% of the company’s stock.

BioLife Solutions Company Profile

BioLife Solutions (NASDAQ:BLFS) specializes in biopreservation and cold chain workflow solutions for cell and gene therapies, regenerative medicine and other advanced biologics. The company develops and markets proprietary cryopreservation media and technology platforms designed to maintain cell viability and functionality during processing, storage and transport. BioLife’s product portfolio addresses critical steps in the manufacturing and distribution of cell-based products, helping life science researchers and biopharmaceutical manufacturers protect and preserve living cells.

The company’s flagship offerings include CryoStor, a family of serum-free cryopreservation media; HypoThermosol, a hypothermic storage solution for short-term cell and tissue preservation; and the ThawSTAR system, an automated cell thawing instrument that delivers controlled and reproducible warming of frozen cell therapies.