Stephens Initiates Coverage on BioLife Solutions (NASDAQ:BLFS)

Equities research analysts at Stephens started coverage on shares of BioLife Solutions (NASDAQ:BLFS) in a research report issued on Tuesday, Marketbeat Ratings reports. The firm set an “overweight” rating and a $23.00 price target on the medical equipment provider’s stock. Stephens’ price objective would indicate a potential upside of 36.90% from the stock’s previous close.

Several other equities analysts have also recently commented on the stock. Oppenheimer began coverage on shares of BioLife Solutions in a research report on Wednesday, November 20th. They set an “outperform” rating and a $22.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $26.00 target price (up previously from $23.00) on shares of BioLife Solutions in a report on Monday, December 16th. Maxim Group set a $26.00 target price on shares of BioLife Solutions and gave the stock a “buy” rating in a report on Tuesday, September 17th. Zacks Investment Research cut shares of BioLife Solutions from a “hold” rating to a “sell” rating in a report on Monday. Finally, ValuEngine raised shares of BioLife Solutions from a “sell” rating to a “hold” rating in a report on Tuesday, December 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $22.50.

Shares of BLFS stock opened at $16.80 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.33 and a current ratio of 6.49. BioLife Solutions has a one year low of $11.60 and a one year high of $22.44. The company’s 50-day simple moving average is $16.16 and its 200-day simple moving average is $17.32. The stock has a market capitalization of $326.83 million, a price-to-earnings ratio of 120.00, a PEG ratio of 11.62 and a beta of 1.24.

BioLife Solutions (NASDAQ:BLFS) last issued its quarterly earnings results on Tuesday, November 12th. The medical equipment provider reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. BioLife Solutions had a net margin of 46.77% and a return on equity of 5.37%. The business had revenue of $6.60 million for the quarter, compared to analysts’ expectations of $7.65 million. As a group, research analysts forecast that BioLife Solutions will post 0.05 EPS for the current year.

In related news, CEO Michael Rice sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $13.98, for a total transaction of $139,800.00. Following the transaction, the chief executive officer now owns 185,014 shares in the company, valued at $2,586,495.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Todd Berard sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $15.68, for a total transaction of $47,040.00. Following the transaction, the chief marketing officer now owns 44,074 shares in the company, valued at approximately $691,080.32. The disclosure for this sale can be found here. Insiders sold 124,940 shares of company stock worth $1,991,491 in the last three months. 27.00% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of BioLife Solutions by 2.0% during the second quarter. Vanguard Group Inc. now owns 627,183 shares of the medical equipment provider’s stock valued at $10,631,000 after acquiring an additional 12,416 shares during the period. Russell Investments Group Ltd. boosted its holdings in BioLife Solutions by 94.8% during the third quarter. Russell Investments Group Ltd. now owns 582,843 shares of the medical equipment provider’s stock worth $9,685,000 after buying an additional 283,603 shares in the last quarter. BlackRock Inc. boosted its holdings in BioLife Solutions by 129.3% during the second quarter. BlackRock Inc. now owns 541,305 shares of the medical equipment provider’s stock worth $9,177,000 after buying an additional 305,276 shares in the last quarter. Park West Asset Management LLC boosted its holdings in BioLife Solutions by 1,577.3% during the second quarter. Park West Asset Management LLC now owns 344,255 shares of the medical equipment provider’s stock worth $5,835,000 after buying an additional 323,731 shares in the last quarter. Finally, Granahan Investment Management Inc. MA boosted its holdings in BioLife Solutions by 113.5% during the third quarter. Granahan Investment Management Inc. MA now owns 270,085 shares of the medical equipment provider’s stock worth $4,490,000 after buying an additional 143,595 shares in the last quarter. Institutional investors and hedge funds own 50.16% of the company’s stock.

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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