BioLife Solutions (NASDAQ:BLFS) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of BioLife Solutions (NASDAQ:BLFS) from a hold rating to a buy rating in a research note released on Thursday, Zacks.com reports. They currently have $18.00 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 research analysts also recently issued reports on BLFS. Maxim Group set a $26.00 price target on shares of BioLife Solutions and gave the stock a buy rating in a research note on Tuesday, September 17th. Northland Securities lifted their price target on shares of BioLife Solutions from $18.00 to $22.00 and gave the stock an outperform rating in a research note on Wednesday, September 4th. ValuEngine downgraded shares of BioLife Solutions from a hold rating to a sell rating in a research note on Saturday, October 5th. BidaskClub downgraded shares of BioLife Solutions from a buy rating to a hold rating in a research note on Saturday, October 12th. Finally, HC Wainwright assumed coverage on shares of BioLife Solutions in a research note on Monday, July 22nd. They issued a buy rating and a $23.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $19.33.

Shares of BioLife Solutions stock opened at $16.33 on Thursday. BioLife Solutions has a 52-week low of $9.15 and a 52-week high of $22.44. The company has a 50 day moving average of $18.16 and a 200 day moving average of $17.80. The company has a quick ratio of 7.71, a current ratio of 9.42 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $339.15 million, a P/E ratio of 116.64 and a beta of 1.35.

BioLife Solutions (NASDAQ:BLFS) last issued its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. BioLife Solutions had a net margin of 14.60% and a return on equity of 8.65%. The company had revenue of $6.70 million during the quarter, compared to the consensus estimate of $6.59 million. As a group, research analysts anticipate that BioLife Solutions will post 0.08 earnings per share for the current fiscal year.

In other BioLife Solutions news, VP James Mathers sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $18.38, for a total transaction of $45,950.00. Following the sale, the vice president now owns 19,884 shares of the company’s stock, valued at $365,467.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Greef Roderick De sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $18.96, for a total transaction of $568,800.00. Following the sale, the chief financial officer now directly owns 35,859 shares in the company, valued at approximately $679,886.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 232,556 shares of company stock worth $4,416,299. 27.00% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in BLFS. JPMorgan Chase & Co. acquired a new stake in BioLife Solutions during the second quarter worth approximately $30,000. Alpine Woods Capital Investors LLC acquired a new stake in BioLife Solutions during the second quarter worth approximately $170,000. Morgan Stanley increased its holdings in shares of BioLife Solutions by 17.5% in the 2nd quarter. Morgan Stanley now owns 11,506 shares of the medical equipment provider’s stock valued at $195,000 after acquiring an additional 1,713 shares during the period. Menta Capital LLC acquired a new position in shares of BioLife Solutions in the 2nd quarter valued at $202,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in shares of BioLife Solutions in the 2nd quarter valued at $283,000. 45.05% of the stock is currently owned by institutional investors.

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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