BioLife Solutions (BLFS) Given a $24.00 Price Target at Maxim Group

BioLife Solutions (NASDAQ:BLFS) has been given a $24.00 price objective by stock analysts at Maxim Group in a research report issued on Wednesday, AnalystRatings.com reports. The firm currently has a “buy” rating on the medical equipment provider’s stock. Maxim Group’s price objective would suggest a potential upside of 36.13% from the stock’s previous close.

The analysts wrote, “On 5/9, BioLife reported 1Q19 with $5.8M in revenue, up 51% y/y and 6% sequentially, with a gross margin of 71.5%. BioLife also reported a $0.4M net profit for the quarter and ended the period with $31.8M in cash. We note that this does not include revenues from the Astero Acquisition (completed in April).””

A number of other brokerages have also issued reports on BLFS. BidaskClub raised BioLife Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, March 19th. ValuEngine raised BioLife Solutions from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 19th. Zacks Investment Research lowered BioLife Solutions from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. Finally, Northland Securities reaffirmed a “buy” rating and issued a $18.00 price target on shares of BioLife Solutions in a research note on Monday, May 13th. Seven investment analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average target price of $17.80.

Shares of NASDAQ:BLFS opened at $17.63 on Wednesday. The company has a current ratio of 14.50, a quick ratio of 12.99 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $345.72 million, a PE ratio of 125.93 and a beta of 1.53. BioLife Solutions has a 1 year low of $9.01 and a 1 year high of $26.35.

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

In related news, CFO Greef Roderick De sold 10,000 shares of BioLife Solutions stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $19.83, for a total transaction of $198,300.00. Following the transaction, the chief financial officer now owns 40,359 shares in the company, valued at $800,318.97. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael Rice sold 7,088 shares of BioLife Solutions stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $17.19, for a total value of $121,842.72. Following the transaction, the chief executive officer now owns 182,102 shares in the company, valued at approximately $3,130,333.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,417 shares of company stock worth $1,589,925. 38.50% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC lifted its position in BioLife Solutions by 2.9% during the first quarter. Janney Montgomery Scott LLC now owns 21,115 shares of the medical equipment provider’s stock worth $378,000 after buying an additional 600 shares in the last quarter. GSA Capital Partners LLP lifted its position in BioLife Solutions by 21.1% during the fourth quarter. GSA Capital Partners LLP now owns 13,800 shares of the medical equipment provider’s stock worth $166,000 after buying an additional 2,400 shares in the last quarter. Cadence Capital Management LLC lifted its position in BioLife Solutions by 1.8% during the first quarter. Cadence Capital Management LLC now owns 195,269 shares of the medical equipment provider’s stock worth $3,493,000 after buying an additional 3,439 shares in the last quarter. Cowen Prime Services LLC purchased a new position in BioLife Solutions during the first quarter worth approximately $63,000. Finally, Wells Fargo & Company MN lifted its position in BioLife Solutions by 4.2% during the first quarter. Wells Fargo & Company MN now owns 93,146 shares of the medical equipment provider’s stock worth $1,667,000 after buying an additional 3,784 shares in the last quarter. Hedge funds and other institutional investors own 44.02% of the company’s stock.

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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