BioLife Solutions (NASDAQ:BLFS) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of BioLife Solutions (NASDAQ:BLFS) from a sell rating to a hold rating in a report released on Wednesday.

Several other research firms have also issued reports on BLFS. HC Wainwright boosted their price target on BioLife Solutions from $27.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Benchmark reiterated a “buy” rating and set a $30.00 price objective on shares of BioLife Solutions in a research note on Thursday, December 19th. KeyCorp lifted their price target on shares of BioLife Solutions from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, Northland Securities upped their price target on shares of BioLife Solutions from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.86.

BioLife Solutions Trading Up 0.6 %

Shares of NASDAQ:BLFS opened at $25.48 on Wednesday. The stock’s 50-day simple moving average is $26.48 and its two-hundred day simple moving average is $25.49. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -24.04 and a beta of 2.04. BioLife Solutions has a 52-week low of $14.84 and a 52-week high of $29.55. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.78.

BioLife Solutions (NASDAQ:BLFS) last announced its earnings results on Monday, March 3rd. The medical equipment provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.32. The company had revenue of $22.71 million during the quarter, compared to analyst estimates of $21.73 million. BioLife Solutions had a negative net margin of 38.98% and a negative return on equity of 6.61%. During the same period in the previous year, the business posted ($0.21) earnings per share. Analysts expect that BioLife Solutions will post -0.3 EPS for the current year.

Insider Transactions at BioLife Solutions

In other BioLife Solutions news, CFO Troy Wichterman sold 987 shares of BioLife Solutions stock in a transaction on Monday, January 6th. The shares were sold at an average price of $27.02, for a total value of $26,668.74. Following the sale, the chief financial officer now directly owns 121,779 shares in the company, valued at approximately $3,290,468.58. The trade was a 0.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Todd Berard sold 1,577 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $25.00, for a total value of $39,425.00. Following the transaction, the chief marketing officer now owns 104,961 shares of the company’s stock, valued at approximately $2,624,025. The trade was a 1.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,117 shares of company stock valued at $534,442. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of BioLife Solutions

A number of large investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC bought a new position in shares of BioLife Solutions during the 4th quarter valued at approximately $26,000. Mark Sheptoff Financial Planning LLC bought a new position in BioLife Solutions during the third quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of BioLife Solutions in the 4th quarter worth about $31,000. Quest Partners LLC bought a new stake in shares of BioLife Solutions in the 3rd quarter worth about $57,000. Finally, 1620 Investment Advisors Inc. increased its holdings in shares of BioLife Solutions by 41.7% in the 4th quarter. 1620 Investment Advisors Inc. now owns 2,295 shares of the medical equipment provider’s stock worth $60,000 after buying an additional 675 shares during the last quarter. Institutional investors own 93.24% of the company’s stock.

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.