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

Zacks Investment Research upgraded shares of BioLife Solutions (NASDAQ:BLFS) from a sell rating to a buy rating in a report released on Wednesday, Zacks.com reports. The brokerage currently has $20.00 price target on the medical equipment provider’s stock.

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 brokerages have also commented on BLFS. ValuEngine raised shares of BioLife Solutions from a buy rating to a strong-buy rating in a research report on Tuesday, March 19th. BidaskClub raised shares of BioLife Solutions from a hold rating to a buy rating in a research report on Tuesday, March 19th. Finally, Northland Securities reaffirmed a buy rating and set a $18.00 target price on shares of BioLife Solutions in a research report on Monday, May 13th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $18.20.

BioLife Solutions stock opened at $18.22 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 12.99 and a current ratio of 14.50. BioLife Solutions has a 1-year low of $8.50 and a 1-year high of $26.35. The stock has a market capitalization of $342.52 million, a P/E ratio of 107.18 and a beta of 1.53.

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

In other news, CEO Michael Rice sold 7,088 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $16.94, for a total transaction of $120,070.72. Following the transaction, the chief executive officer now directly owns 182,102 shares of the company’s stock, valued at $3,084,807.88. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Greef Roderick De sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $16.53, for a total transaction of $165,300.00. Following the transaction, the chief financial officer now directly owns 40,359 shares in the company, valued at $667,134.27. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,417 shares of company stock worth $1,762,225. Corporate insiders own 38.50% of the company’s stock.

Several large investors have recently modified their holdings of BLFS. FMR LLC purchased a new position in BioLife Solutions during the first quarter valued at approximately $2,684,000. BlueCrest Capital Management Ltd increased its holdings in BioLife Solutions by 40.5% during the first quarter. BlueCrest Capital Management Ltd now owns 16,290 shares of the medical equipment provider’s stock valued at $291,000 after buying an additional 4,696 shares during the period. Park West Asset Management LLC purchased a new position in BioLife Solutions during the first quarter valued at approximately $367,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in BioLife Solutions by 281.3% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,380 shares of the medical equipment provider’s stock valued at $96,000 after buying an additional 3,969 shares during the period. Finally, Morgan Stanley increased its holdings in BioLife Solutions by 114.8% during the first quarter. Morgan Stanley now owns 9,793 shares of the medical equipment provider’s stock valued at $175,000 after buying an additional 5,234 shares during the period. 41.21% of the stock is currently owned by institutional investors and hedge funds.

About BioLife Solutions

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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