Shares of BioLife Solutions Inc (NASDAQ:BLFS) have been assigned an average broker rating score of 1.00 (Strong Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Three equities research analysts have rated the stock with a strong buy recommendation. BioLife Solutions’ rating score has improved by 40.1% in the last 90 days as a result of various analysts’ ratings changes.
Brokerages have set a 12 month consensus price target of $8.50 for the company and are expecting that the company will post ($0.03) EPS for the current quarter, according to Zacks. Zacks has also given BioLife Solutions an industry rank of 199 out of 265 based on the ratings given to related companies.
A number of equities research analysts have weighed in on the company. Northland Securities assumed coverage on BioLife Solutions in a research report on Monday. They set an “outperform” rating for the company. Maxim Group set a $8.00 target price on BioLife Solutions and gave the company a “buy” rating in a research report on Friday.
BioLife Solutions (NASDAQ:BLFS) last issued its earnings results on Thursday, March 8th. The medical equipment provider reported ($0.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.01). The firm had revenue of $3.13 million for the quarter, compared to the consensus estimate of $3.10 million. BioLife Solutions had a negative net margin of 22.82% and a negative return on equity of 44.83%. equities research analysts predict that BioLife Solutions will post -0.1 earnings per share for the current year.
In other news, CEO Michael Rice sold 12,540 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $5.26, for a total value of $65,960.40. Following the completion of the transaction, the chief executive officer now directly owns 152,057 shares of the company’s stock, valued at approximately $799,819.82. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 36.80% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC raised its position in shares of BioLife Solutions by 901.6% in the 4th quarter. Millennium Management LLC now owns 182,550 shares of the medical equipment provider’s stock worth $1,095,000 after acquiring an additional 164,324 shares in the last quarter. Wells Fargo & Company MN bought a new position in shares of BioLife Solutions in the 4th quarter worth $111,000. Essex Investment Management Co. LLC raised its position in shares of BioLife Solutions by 199.8% in the 4th quarter. Essex Investment Management Co. LLC now owns 254,096 shares of the medical equipment provider’s stock worth $1,525,000 after acquiring an additional 169,341 shares in the last quarter. EAM Investors LLC bought a new position in shares of BioLife Solutions in the 3rd quarter worth $555,000. Finally, Granite Investment Partners LLC bought a new position in shares of BioLife Solutions in the 3rd quarter worth $1,205,000. 12.19% of the stock is owned by hedge funds and other institutional investors.
BioLife Solutions Company Profile
BioLife Solutions, Inc (BioLife) is engaged in the developing, manufacturing and marketing a portfolio of biopreservation tools and services for cells, tissues and organs, including clinical grade cell and tissue hypothermic storage and cryopreservation freeze media and a related cloud hosted biologistics cold chain management application for shippers.
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