BioLife Solutions Inc (BLFS) Sees Large Volume Increase Following Analyst Upgrade
BioLife Solutions Inc (NASDAQ:BLFS) saw an uptick in trading volume on Tuesday after Maxim Group raised their price target on the stock from $6.00 to $7.00. Maxim Group currently has a buy rating on the stock. 659,331 shares traded hands during trading, an increase of 329% from the previous session’s volume of 153,628 shares.The stock last traded at $5.47 and had previously closed at $5.29.
Separately, Janney Montgomery Scott raised shares of BioLife Solutions from a “neutral” rating to a “buy” rating and raised their target price for the stock from $2.62 to $5.00 in a research report on Wednesday, July 5th.
The firm’s market cap is $66.40 million. The stock’s 50-day moving average price is $4.41 and its 200-day moving average price is $2.88.
BioLife Solutions (NASDAQ:BLFS) last announced its earnings results on Thursday, August 10th. The medical equipment provider reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). BioLife Solutions had a negative net margin of 30.03% and a negative return on equity of 64.03%. The firm had revenue of $2.56 million for the quarter, compared to the consensus estimate of $2.40 million. Analysts predict that BioLife Solutions Inc will post ($0.24) EPS for the current year.
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About BioLife Solutions
BioLife Solutions, Inc (BioLife) is engaged in the developing, manufacturing and marketing a portfolio of biopreservation tools and services for cells, tissues and organs, including clinical grade cell and tissue hypothermic storage and cryopreservation freeze media and a related cloud hosted biologistics cold chain management application for shippers.
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