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

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) have earned a consensus rating of “Hold” from the eleven ratings firms that are currently covering the company, MarketBeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $31.38.

A number of analysts recently commented on BLFS shares. Weiss Ratings raised BioLife Solutions from a “sell (d-)” rating to a “hold (c)” rating in a research report on Tuesday, September 22nd. Benchmark downgraded BioLife Solutions from a “buy” rating to a “hold” rating in a report on Monday, August 10th. William Blair set a $31.00 price objective on shares of BioLife Solutions in a report on Thursday, July 23rd. Craig Hallum downgraded shares of BioLife Solutions from a “buy” rating to a “hold” rating and set a $31.00 target price for the company. in a research report on Wednesday, July 22nd. Finally, Stephens lowered shares of BioLife Solutions from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $32.00 to $31.00 in a report on Monday, July 27th.

BioLife Solutions Price Performance

NASDAQ:BLFS opened at $38.61 on Friday. BioLife Solutions has a twelve month low of $17.86 and a twelve month high of $39.76. The company has a fifty day moving average of $37.59 and a 200-day moving average of $28.10. The firm has a market capitalization of $1.89 billion, a P/E ratio of 33.28 and a beta of 1.82.

BioLife Solutions (NASDAQ:BLFS) last posted its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $0.91 EPS for the quarter, topping 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 business had revenue of $28.47 million during the quarter, compared to analysts’ expectations of $27.80 million. On average, analysts anticipate that BioLife Solutions will post 0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On BioLife Solutions

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its position in shares of BioLife Solutions by 73.4% during the first quarter. Bank of America Corp DE now owns 904,103 shares of the medical equipment provider’s stock valued at $17,250,000 after acquiring an additional 382,776 shares during the last quarter. Granahan Investment Management LLC increased its position in shares of BioLife Solutions by 49.7% during the 1st quarter. Granahan Investment Management LLC now owns 722,057 shares of the medical equipment provider’s stock valued at $13,777,000 after purchasing an additional 239,701 shares during the last quarter. Ranger Investment Management L.P. purchased a new stake in shares of BioLife Solutions during the 2nd quarter valued at $6,736,000. Bank of New York Mellon Corp bought a new position in BioLife Solutions during the second quarter valued at about $6,470,000. Finally, Summit Creek Advisors LLC bought a new position in BioLife Solutions during the second quarter valued at about $5,099,000. 93.24% of the stock is owned by hedge funds and other institutional investors.

About BioLife Solutions

BioLife Solutions, Inc develops and supplies products and services used to preserve, process, store and transport biological materials. Its solutions support the development and manufacture of cell and gene therapies, including products designed to help maintain the viability and functionality of cells, tissues and other biologic materials throughout the bioprocessing workflow.

The company’s portfolio includes preservation media such as CryoStor and HypoThermosol, cell thawing and handling products, and related storage and shipping systems.