BioLife Solutions (NASDAQ:BLFS) Stock Price Expected to Rise, TD Cowen Analyst Says

BioLife Solutions (NASDAQ:BLFS) had its target price lifted by TD Cowen from $28.00 to $31.00 in a research note published on Wednesday,Benzinga reports. TD Cowen currently has a buy rating on the medical equipment provider’s stock.

A number of other research firms also recently issued reports on BLFS. Northland Securities lifted their price target on shares of BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Craig Hallum lifted their price objective on BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, HC Wainwright assumed coverage on BioLife Solutions in a research report on Monday, September 30th. They set a “buy” rating and a $29.00 target price on the stock. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to MarketBeat.com, BioLife Solutions has an average rating of “Moderate Buy” and a consensus price target of $27.83.

BioLife Solutions Stock Down 2.9 %

BioLife Solutions stock opened at $21.02 on Wednesday. The stock’s 50 day moving average price is $24.00 and its 200 day moving average price is $22.78. BioLife Solutions has a 1-year low of $11.40 and a 1-year high of $28.88. The company has a market cap of $975.05 million, a PE ratio of -19.83 and a beta of 1.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 1.81.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its position in BioLife Solutions by 249.5% during the 1st quarter. BNP Paribas Financial Markets now owns 53,515 shares of the medical equipment provider’s stock worth $993,000 after purchasing an additional 38,201 shares in the last quarter. Texas Permanent School Fund Corp increased its position in shares of BioLife Solutions by 4.7% in the first quarter. Texas Permanent School Fund Corp now owns 31,145 shares of the medical equipment provider’s stock worth $578,000 after acquiring an additional 1,384 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of BioLife Solutions in the 1st quarter valued at $335,000. Swiss National Bank lifted its holdings in shares of BioLife Solutions by 3.6% during the 1st quarter. Swiss National Bank now owns 71,100 shares of the medical equipment provider’s stock valued at $1,319,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Sei Investments Co. boosted its position in BioLife Solutions by 1.4% during the 1st quarter. Sei Investments Co. now owns 60,191 shares of the medical equipment provider’s stock worth $1,117,000 after purchasing an additional 839 shares during the period. 93.24% of the stock is owned by hedge funds and other institutional investors.

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.