BioLife Solutions, Inc. (NASDAQ:BLFS) Stock Has Consensus Target Price of $31.38 According to Brokerages

BioLife Solutions, Inc. (NASDAQ:BLFS) has received a consensus rating of “Hold” from the eleven research firms that are currently covering the firm, Marketbeat reports. Ten analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $31.38.

BLFS has been the subject of several analyst reports. Craig Hallum downgraded BioLife Solutions from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a research note on Wednesday, July 22nd. Stephens reaffirmed an “equal weight” rating and set a $31.00 price objective (down from $32.00) on shares of BioLife Solutions in a research report on Monday, July 27th. HC Wainwright downgraded BioLife Solutions from a “buy” rating to a “neutral” rating and lowered their target price for the company from $32.00 to $31.00 in a research note on Thursday, July 23rd. Zacks Research lowered BioLife Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, September 21st. Finally, Jefferies Financial Group cut 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 note on Thursday, July 23rd.

BioLife Solutions Stock Performance

Shares of BioLife Solutions stock opened at $38.61 on Monday. BioLife Solutions has a 1 year low of $17.86 and a 1 year high of $39.76. The company has a market capitalization of $1.89 billion, a P/E ratio of 33.28 and a beta of 1.82. The company’s fifty day moving average is $36.36 and its two-hundred day moving average is $28.77.

BioLife Solutions (NASDAQ:BLFS) last posted its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.88. BioLife Solutions had a net margin of 53.29% and a return on equity of 2.70%. The company had revenue of $28.47 million for the quarter, compared to analyst estimates of $27.80 million. As a group, equities analysts expect that BioLife Solutions will post 0.03 earnings per share for the current year.

Hedge Funds Weigh In On BioLife Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of BioLife Solutions by 7.2% in the third quarter. GAMMA Investing LLC now owns 9,647 shares of the medical equipment provider’s stock valued at $375,000 after acquiring an additional 651 shares in the last quarter. Cannell & Spears LLC increased its stake in shares of BioLife Solutions by 3.2% during the first quarter. Cannell & Spears LLC now owns 26,261 shares of the medical equipment provider’s stock worth $493,000 after acquiring an additional 825 shares during the period. Cetera Investment Advisers increased its stake in shares of BioLife Solutions by 26.8% during the first quarter. Cetera Investment Advisers now owns 11,614 shares of the medical equipment provider’s stock worth $222,000 after acquiring an additional 2,458 shares during the period. State of Wyoming purchased a new position in BioLife Solutions during the first quarter worth about $52,000. Finally, Illinois Municipal Retirement Fund raised its holdings in BioLife Solutions by 12.2% during the first quarter. Illinois Municipal Retirement Fund now owns 25,422 shares of the medical equipment provider’s stock worth $485,000 after purchasing an additional 2,760 shares in the last quarter. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

BioLife Solutions Company Profile

BioLife Solutions, Inc is a life sciences technology company that develops and supplies products used to preserve, store, process and transport cells and tissues. Its solutions support the development and commercialization of cell and gene therapies, as well as other biological materials that require controlled temperature and handling conditions.

The company’s product portfolio includes biopreservation media such as CryoStor and HypoThermosol, cryogenic storage bags and containers, controlled-rate freezing systems, automated thawing equipment and related laboratory tools.