BioLife Solutions’ (BLFS) Buy Rating Reaffirmed at Maxim Group

Maxim Group restated their buy rating on shares of BioLife Solutions, Inc. (NASDAQ:BLFS) in a research note issued to investors on Thursday morning. Maxim Group currently has a $7.00 price objective on the medical equipment provider’s stock.

“With the first CAR-T therapies from Gilead (Kite’s Yescarta) (GILD – $79.89 – Hold) and Novartis (Kymriah) (NVS – $81.37 – NR) now on the market, the focus has shifted towards manufacturing. Can CAR-T be made at scale? As the launches of Yescarta and Kymriah continue we will find out.”,” the firm’s analyst commented.

Separately, Janney Montgomery Scott raised BioLife Solutions from a neutral rating to a buy rating and boosted their price target for the company from $2.62 to $5.00 in a research note on Wednesday, July 5th.

BioLife Solutions (NASDAQ BLFS) traded down 6.88% during midday trading on Thursday, hitting $5.41. 148,624 shares of the company traded hands. The company’s market cap is $71.56 million. The stock has a 50 day moving average price of $5.54 and a 200-day moving average price of $3.60. BioLife Solutions has a 12-month low of $1.43 and a 12-month high of $7.53.

BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings results on Thursday, August 10th. The medical equipment provider reported ($0.06) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.06). The business had revenue of $2.56 million during the quarter, compared to analysts’ expectations of $2.40 million. BioLife Solutions had a negative return on equity of 64.98% and a negative net margin of 63.71%. Analysts expect that BioLife Solutions will post ($0.24) EPS for the current year.

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About BioLife Solutions

BioLife Solutions, Inc (BioLife) is engaged in the developing, manufacturing and marketing a portfolio of biopreservation tools and services for cells, tissues and organs, including clinical grade cell and tissue hypothermic storage and cryopreservation freeze media and a related cloud hosted biologistics cold chain management application for shippers.

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