BioLife Solutions, Inc. (NASDAQ:BLFS) Given Average Recommendation of "Buy" by Brokerages

BioLife Solutions, Inc. (NASDAQ:BLFS - Get Free Report) has been given a consensus rating of "Buy" by the six brokerages that are covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $31.17.

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Several brokerages have recently commented on BLFS. Wall Street Zen downgraded BioLife Solutions from a "hold" rating to a "sell" rating in a research note on Wednesday. HC Wainwright reissued a "buy" rating and set a $30.00 price target on shares of BioLife Solutions in a report on Tuesday, May 13th.

Read Our Latest Stock Analysis on BioLife Solutions

BioLife Solutions Stock Performance

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Shares of NASDAQ BLFS opened at $22.10 on Friday. The company has a current ratio of 2.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. BioLife Solutions has a 12 month low of $18.70 and a 12 month high of $29.55. The stock has a 50 day moving average of $23.27 and a 200-day moving average of $25.24. The company has a market capitalization of $1.05 billion, a P/E ratio of -20.85 and a beta of 2.01.

BioLife Solutions (NASDAQ:BLFS - Get Free Report) last issued its earnings results on Thursday, May 8th. The medical equipment provider reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.07. BioLife Solutions had a negative return on equity of 6.61% and a negative net margin of 38.98%. The company had revenue of $23.94 million during the quarter, compared to the consensus estimate of $22.22 million. As a group, equities research analysts predict that BioLife Solutions will post -0.3 EPS for the current year.

Insider Buying and Selling

In other BioLife Solutions news, CMO Todd Berard sold 1,577 shares of BioLife Solutions stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $25.00, for a total value of $39,425.00. Following the completion of the transaction, the chief marketing officer now directly owns 104,961 shares of the company's stock, valued at $2,624,025. The trade was a 1.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Troy Wichterman sold 4,151 shares of BioLife Solutions stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $25.00, for a total value of $103,775.00. Following the completion of the transaction, the chief financial officer now directly owns 116,809 shares of the company's stock, valued at $2,920,225. This represents a 3.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,696 shares of company stock valued at $1,665,094. Insiders own 2.20% of the company's stock.

Hedge Funds Weigh In On BioLife Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC acquired a new position in BioLife Solutions in the 4th quarter valued at $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in BioLife Solutions in the 4th quarter valued at $31,000. State of Wyoming raised its holdings in BioLife Solutions by 353.1% in the 1st quarter. State of Wyoming now owns 1,912 shares of the medical equipment provider's stock valued at $44,000 after acquiring an additional 1,490 shares in the last quarter. US Bancorp DE raised its holdings in BioLife Solutions by 243.7% in the 1st quarter. US Bancorp DE now owns 2,155 shares of the medical equipment provider's stock valued at $49,000 after acquiring an additional 1,528 shares in the last quarter. Finally, 1620 Investment Advisors Inc. raised its holdings in 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 valued at $60,000 after acquiring an additional 675 shares in the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

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.

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