BioLife Solutions (NASDAQ:BLFS) Stock Rating Upgraded by Zacks Research

BioLife Solutions (NASDAQ:BLFS) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other brokerages have also commented on BLFS. HC Wainwright lowered shares of BioLife Solutions from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $32.00 to $31.00 in a report on Thursday, July 23rd. TD Cowen lowered shares of BioLife Solutions from a “buy” rating to a “hold” rating and reduced their target price for the stock from $33.00 to $31.00 in a research report on Wednesday, July 22nd. Lake Street Capital cut shares of BioLife Solutions from a “buy” rating to a “hold” rating and decreased their price target for the company from $33.00 to $31.00 in a research note on Wednesday, July 22nd. Craig Hallum lowered shares of BioLife Solutions from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a report on Wednesday, July 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of BioLife Solutions in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $31.38.

BioLife Solutions Stock Performance

Shares of BLFS opened at $31.50 on Tuesday. The stock has a fifty day moving average price of $27.42 and a two-hundred day moving average price of $23.65. BioLife Solutions has a 52-week low of $17.86 and a 52-week high of $33.14. The company has a market cap of $1.54 billion, a price-to-earnings ratio of -393.70 and a beta of 1.94.

BioLife Solutions (NASDAQ:BLFS) last announced its earnings results on Thursday, May 7th. The medical equipment provider reported $0.04 EPS for the quarter, topping the consensus estimate of $0.01 by $0.03. BioLife Solutions had a positive return on equity of 1.81% and a negative net margin of 2.80%.The company had revenue of $27.50 million for the quarter, compared to analysts’ expectations of $25.66 million. As a group, research analysts predict that BioLife Solutions will post 0.03 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Casdin Partners Master Fund, L sold 650,000 shares of BioLife Solutions stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $23.70, for a total transaction of $15,405,000.00. Following the completion of the sale, the insider owned 4,757,165 shares in the company, valued at $112,744,810.50. The trade was a 12.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 1,200,000 shares of company stock valued at $28,125,000. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BioLife Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. raised its position in shares of BioLife Solutions by 27.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,180,824 shares of the medical equipment provider’s stock valued at $125,273,000 after acquiring an additional 1,113,972 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of BioLife Solutions by 73.4% in the 1st quarter. Bank of America Corp DE now owns 904,103 shares of the medical equipment provider’s stock valued at $17,250,000 after purchasing an additional 382,776 shares during the period. Capricorn Fund Managers Ltd bought a new position in shares of BioLife Solutions in the 4th quarter worth $9,153,000. Invesco Ltd. boosted its position in shares of BioLife Solutions by 9.2% in the 4th quarter. Invesco Ltd. now owns 3,932,191 shares of the medical equipment provider’s stock worth $95,080,000 after purchasing an additional 332,747 shares during the last quarter. Finally, Granahan Investment Management LLC grew its stake in shares of BioLife Solutions by 49.7% during the first quarter. Granahan Investment Management LLC now owns 722,057 shares of the medical equipment provider’s stock worth $13,777,000 after purchasing an additional 239,701 shares during the period. 93.24% of the stock is owned by institutional investors.

BioLife Solutions Company Profile

BioLife Solutions (NASDAQ:BLFS) specializes in biopreservation and cold chain workflow solutions for cell and gene therapies, regenerative medicine and other advanced biologics. The company develops and markets proprietary cryopreservation media and technology platforms designed to maintain cell viability and functionality during processing, storage and transport. BioLife’s product portfolio addresses critical steps in the manufacturing and distribution of cell-based products, helping life science researchers and biopharmaceutical manufacturers protect and preserve living cells.

The company’s flagship offerings include CryoStor, a family of serum-free cryopreservation media; HypoThermosol, a hypothermic storage solution for short-term cell and tissue preservation; and the ThawSTAR system, an automated cell thawing instrument that delivers controlled and reproducible warming of frozen cell therapies.