BioLife Solutions (NASDAQ:BLFS) Now Covered by HC Wainwright

Investment analysts at HC Wainwright began coverage on shares of BioLife Solutions (NASDAQ:BLFS) in a note issued to investors on Monday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $29.00 price target on the medical equipment provider’s stock. HC Wainwright’s price objective would suggest a potential upside of 20.13% from the company’s current price. HC Wainwright also issued estimates for BioLife Solutions’ Q3 2024 earnings at ($0.09) EPS and Q4 2024 earnings at ($0.09) EPS.

BLFS has been the subject of a number of other research reports. Northland Securities raised their price target on shares of BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. TD Cowen raised their price target on shares of BioLife Solutions from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Craig Hallum raised their price target on shares of BioLife Solutions from $23.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.67.

BioLife Solutions Stock Down 3.6 %

Shares of NASDAQ:BLFS opened at $24.14 on Monday. The company has a quick ratio of 1.81, a current ratio of 2.86 and a debt-to-equity ratio of 0.04. BioLife Solutions has a 52-week low of $8.92 and a 52-week high of $26.73. The company has a 50 day moving average of $24.51 and a two-hundred day moving average of $21.28. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -17.00 and a beta of 1.87.

BioLife Solutions (NASDAQ:BLFS) last issued its quarterly earnings data on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.08. BioLife Solutions had a negative net margin of 59.88% and a negative return on equity of 10.75%. The company had revenue of $28.33 million during the quarter, compared to the consensus estimate of $23.80 million. As a group, analysts forecast that BioLife Solutions will post -0.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BioLife Solutions news, EVP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total value of $239,000.00. Following the completion of the transaction, the executive vice president now owns 317,716 shares of the company’s stock, valued at $7,593,412.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other BioLife Solutions news, EVP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total value of $239,000.00. Following the completion of the transaction, the executive vice president now owns 317,716 shares of the company’s stock, valued at $7,593,412.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Garrie Richardson sold 3,070 shares of BioLife Solutions stock in a transaction on Monday, September 16th. The stock was sold at an average price of $25.12, for a total transaction of $77,118.40. Following the completion of the transaction, the executive now directly owns 114,773 shares of the company’s stock, valued at approximately $2,883,097.76. The disclosure for this sale can be found here. Insiders sold a total of 16,944 shares of company stock valued at $405,619 over the last 90 days. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On BioLife Solutions

Hedge funds have recently added to or reduced their stakes in the stock. 1620 Investment Advisors Inc. bought a new stake in BioLife Solutions in the second quarter valued at $35,000. Register Financial Advisors LLC bought a new stake in BioLife Solutions in the first quarter valued at $96,000. Canada Pension Plan Investment Board bought a new stake in BioLife Solutions in the second quarter valued at $122,000. Arizona State Retirement System bought a new stake in BioLife Solutions in the second quarter valued at $217,000. Finally, Marshall Wace LLP bought a new stake in BioLife Solutions in the second quarter valued at $229,000. 93.24% of the stock is currently owned by institutional investors.

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.