BioLife Solutions, Inc. (BLFS) – What Are Researchers Thinking About This Stock?

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) have been assigned an average rating of “Hold” from the eleven analysts that are covering the firm, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $31.38.

BLFS has been the topic of several research reports. Jefferies Financial Group cut shares of BioLife Solutions from a “buy” rating to a “hold” rating and raised their price objective for the company from $30.00 to $31.00 in a research report on Thursday, July 23rd. Zacks Research lowered shares of BioLife Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 21st. Stephens cut BioLife Solutions from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $32.00 to $31.00 in a research note on Monday, July 27th. Maxim Group cut BioLife Solutions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Finally, Wall Street Zen downgraded BioLife Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th.

Hedge Funds Weigh In On BioLife Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE grew its position in 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 raised its stake in shares of BioLife Solutions by 49.7% during the first quarter. Granahan Investment Management LLC now owns 722,057 shares of the medical equipment provider’s stock worth $13,777,000 after acquiring an additional 239,701 shares in the last quarter. Ranger Investment Management L.P. bought a new stake in shares of BioLife Solutions in the 2nd quarter worth approximately $6,736,000. Bank of New York Mellon Corp bought a new stake in shares of BioLife Solutions in the 2nd quarter worth approximately $6,470,000. Finally, Summit Creek Advisors LLC bought a new stake in shares of BioLife Solutions in the 2nd quarter worth approximately $5,099,000. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

BioLife Solutions Price Performance

Shares of BLFS opened at $38.61 on Friday. The firm’s 50 day simple moving average is $37.65 and its 200 day simple moving average is $28.24. The company has a market capitalization of $1.89 billion, a P/E ratio of 33.28 and a beta of 1.82. BioLife Solutions has a 1-year low of $17.86 and a 1-year high of $39.76.

BioLife Solutions (NASDAQ:BLFS) last announced its earnings results on Thursday, August 6th. The medical equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $27.80 million. On average, equities analysts anticipate that BioLife Solutions will post 0.03 earnings per share for the current year.

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.