BioLife Solutions (BLFS) Rating Increased to Buy at Zacks Investment Research

BioLife Solutions (NASDAQ:BLFS) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. The firm presently has a $20.00 target price on the medical equipment provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 13.83% from the stock’s previous close.

According to Zacks, “BioLife Solutions has pioneered the next generation of preservation solutions designed to maintain the viability and health of cellular matter and tissues during freezing, transportation and storage. Based on their proprietary bio-packaging technology and a patented understanding of the mechanism of cellular damage and death, these products enable the biotechnology and medical community to address a growing problem that exists today. “

A number of other equities research analysts have also recently commented on BLFS. ValuEngine upgraded BioLife Solutions from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 19th. BidaskClub upgraded BioLife Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, March 19th. Finally, Northland Securities restated a “buy” rating and set a $18.00 target price on shares of BioLife Solutions in a research report on Monday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $18.20.

Shares of NASDAQ BLFS traded down $0.16 during mid-day trading on Wednesday, hitting $17.57. The stock had a trading volume of 164,102 shares, compared to its average volume of 159,362. The company has a market cap of $319.22 million, a price-to-earnings ratio of 125.50 and a beta of 1.53. The company has a debt-to-equity ratio of 0.02, a current ratio of 14.50 and a quick ratio of 12.99. BioLife Solutions has a twelve month low of $8.45 and a twelve month high of $26.35.

BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings results on Thursday, May 9th. The medical equipment provider reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $5.77 million for the quarter, compared to the consensus estimate of $5.67 million. BioLife Solutions had a return on equity of 10.32% and a net margin of 17.01%. Research analysts expect that BioLife Solutions will post 0.13 earnings per share for the current year.

In related news, CFO Greef Roderick De sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $16.53, for a total value of $165,300.00. Following the transaction, the chief financial officer now directly owns 40,359 shares of the company’s stock, valued at approximately $667,134.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew G. Hinson sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $17.19, for a total transaction of $103,140.00. The disclosure for this sale can be found here. Insiders have sold a total of 81,429 shares of company stock worth $1,419,656 over the last 90 days. Insiders own 38.50% of the company’s stock.

A number of institutional investors have recently modified their holdings of BLFS. Cowen Prime Services LLC purchased a new position in BioLife Solutions in the 1st quarter valued at about $63,000. Canton Hathaway LLC purchased a new position in BioLife Solutions in the 4th quarter valued at about $66,000. Signaturefd LLC purchased a new position in BioLife Solutions in the 1st quarter valued at about $161,000. GSA Capital Partners LLP lifted its stake in BioLife Solutions by 21.1% in the 4th quarter. GSA Capital Partners LLP now owns 13,800 shares of the medical equipment provider’s stock valued at $166,000 after buying an additional 2,400 shares in the last quarter. Finally, Conestoga Capital Advisors LLC purchased a new position in BioLife Solutions in the 1st quarter valued at about $238,000. 41.21% of the stock is currently owned by hedge funds and other institutional investors.

BioLife Solutions Company Profile

BioLife Solutions, Inc develops, manufactures, and markets grade cell and tissue hypothermic storage and cryopreservation freeze media products for cells, tissues, and organs in the United States. Its products are serum-free and protein-free solutions, which are formulated to reduce preservation-induced cell damage and death.

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