Research Analysts Offer Predictions for BLFS FY2024 Earnings

BioLife Solutions, Inc. (NASDAQ:BLFS) – Stock analysts at Northland Capmk lifted their FY2024 earnings estimates for BioLife Solutions in a report issued on Wednesday, November 13th. Northland Capmk analyst C. Byrnes now anticipates that the medical equipment provider will earn ($0.28) per share for the year, up from their prior forecast of ($0.47). The consensus estimate for BioLife Solutions’ current full-year earnings is ($0.29) per share. Northland Capmk also issued estimates for BioLife Solutions’ Q4 2024 earnings at ($0.01) EPS and FY2025 earnings at ($0.15) EPS.

BLFS has been the subject of a number of other research reports. Northland Securities upped their price objective on BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. TD Cowen upped their price target on BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Craig Hallum lifted their price objective on shares of BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, HC Wainwright reduced their price objective on shares of BioLife Solutions from $29.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.50.

BioLife Solutions Stock Down 2.6 %

BLFS opened at $20.47 on Monday. The stock has a market cap of $949.60 million, a price-to-earnings ratio of -19.31 and a beta of 1.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.81 and a current ratio of 2.78. The firm’s fifty day moving average is $23.94 and its 200 day moving average is $22.84. BioLife Solutions has a fifty-two week low of $11.91 and a fifty-two week high of $28.88.

Insiders Place Their Bets

In other BioLife Solutions news, 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 value of $77,118.40. Following the completion of the transaction, the executive now directly owns 114,773 shares of the company’s stock, valued at $2,883,097.76. This trade represents a 2.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Aby J. Mathew sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $23.90, for a total transaction of $239,000.00. Following the completion of the sale, the executive vice president now owns 317,716 shares in the company, valued at approximately $7,593,412.40. This trade represents a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,471 shares of company stock valued at $656,330 in the last quarter. 2.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BLFS. Mark Sheptoff Financial Planning LLC purchased a new stake in BioLife Solutions during the third quarter valued at approximately $28,000. 1620 Investment Advisors Inc. purchased a new stake in BioLife Solutions during the 2nd quarter valued at $35,000. Quest Partners LLC bought a new stake in BioLife Solutions in the third quarter worth $57,000. GAMMA Investing LLC boosted its stake in BioLife Solutions by 29.4% during the third quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock worth $83,000 after buying an additional 748 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in BioLife Solutions during the second quarter valued at $122,000. Institutional investors own 93.24% of the company’s stock.

About BioLife Solutions

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.