Craig Hallum Forecasts Strong Price Appreciation for BioLife Solutions (NASDAQ:BLFS) Stock

BioLife Solutions (NASDAQ:BLFS) had its target price boosted by Craig Hallum from $30.00 to $32.00 in a report published on Wednesday,Benzinga reports. They currently have a buy rating on the medical equipment provider’s stock.

Several other brokerages have also weighed in on BLFS. Northland Securities upped their target price on BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. HC Wainwright assumed coverage on BioLife Solutions in a report on Monday, September 30th. They set a “buy” rating and a $29.00 price objective on the stock. Finally, TD Cowen increased their price objective on BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, BioLife Solutions currently has an average rating of “Moderate Buy” and an average price target of $27.83.

BioLife Solutions Stock Performance

Shares of BLFS stock opened at $21.02 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.81. BioLife Solutions has a fifty-two week low of $11.40 and a fifty-two week high of $28.88. The stock’s 50-day moving average is $24.00 and its two-hundred day moving average is $22.75. The firm has a market cap of $975.12 million, a P/E ratio of -19.83 and a beta of 1.88.

Insider Activity at BioLife Solutions

In related news, EVP Aby J. Mathew sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $23.28, for a total transaction of $232,800.00. Following the completion of the sale, the executive vice president now owns 317,716 shares in the company, valued at $7,396,428.48. This represents a 3.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Garrie Richardson sold 3,070 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $25.12, for a total value of $77,118.40. Following the sale, the executive now owns 114,773 shares of the company’s stock, valued at approximately $2,883,097.76. The trade was a 2.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,471 shares of company stock worth $656,330 in the last 90 days. 2.20% of the stock is owned by company insiders.

Institutional Trading of BioLife Solutions

A number of hedge funds have recently modified their holdings of the company. Stifel Financial Corp lifted its position in shares of BioLife Solutions by 5.4% in the 3rd quarter. Stifel Financial Corp now owns 12,988 shares of the medical equipment provider’s stock worth $325,000 after acquiring an additional 670 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of BioLife Solutions by 4.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the medical equipment provider’s stock worth $392,000 after acquiring an additional 700 shares during the period. GAMMA Investing LLC lifted its position in shares of BioLife Solutions by 29.4% in the 3rd quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock worth $83,000 after acquiring an additional 748 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of BioLife Solutions by 5.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,825 shares of the medical equipment provider’s stock worth $296,000 after acquiring an additional 753 shares during the period. Finally, Sei Investments Co. lifted its position in shares of BioLife Solutions by 1.4% in the 1st quarter. Sei Investments Co. now owns 60,191 shares of the medical equipment provider’s stock worth $1,117,000 after acquiring an additional 839 shares during the period. Institutional investors own 93.24% of the company’s stock.

BioLife Solutions Company Profile

BioLife Solutions, Inc develops, manufactures, and markets bioproduction tools and services for the cell and gene therapy (CGT) industry in the United States, Europe, the Middle East, Africa, and internationally. The company’s products are used in the basic and applied research, and commercial manufacturing of biologic-based therapies.