B. Riley Analysts Give BioLife Solutions (BLFS) a $22.00 Price Target

BioLife Solutions (NASDAQ:BLFS) has been assigned a $22.00 target price by analysts at B. Riley in a research note issued to investors on Friday. The firm currently has a “buy” rating on the medical equipment provider’s stock. B. Riley’s price objective would suggest a potential upside of 57.82% from the company’s previous close.

Several other equities analysts have also commented on the stock. Maxim Group reaffirmed a “buy” rating and issued a $26.00 price objective on shares of BioLife Solutions in a research report on Wednesday, September 5th. Northland Securities reaffirmed a “buy” rating and issued a $18.00 price objective on shares of BioLife Solutions in a research report on Friday, August 10th. ValuEngine lowered shares of BioLife Solutions from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 27th. BidaskClub lowered shares of BioLife Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, September 22nd. Finally, TheStreet raised shares of BioLife Solutions from a “d” rating to a “c-” rating in a research report on Tuesday, September 11th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $22.00.

Shares of BioLife Solutions stock traded up $1.66 during midday trading on Friday, hitting $13.94. The company had a trading volume of 427,300 shares, compared to its average volume of 209,850. The firm has a market capitalization of $194.25 million, a P/E ratio of -66.38 and a beta of 1.46. BioLife Solutions has a 12-month low of $4.63 and a 12-month high of $26.35.

BioLife Solutions (NASDAQ:BLFS) last announced its quarterly earnings data on Thursday, November 8th. The medical equipment provider reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The firm had revenue of $5.29 million during the quarter, compared to analyst estimates of $5.19 million. BioLife Solutions had a net margin of 1.76% and a return on equity of 2.24%. As a group, analysts anticipate that BioLife Solutions will post 0.14 EPS for the current year.

In other BioLife Solutions news, CEO Michael Rice sold 12,540 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $19.50, for a total transaction of $244,530.00. Following the completion of the transaction, the chief executive officer now directly owns 152,057 shares of the company’s stock, valued at approximately $2,965,111.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Raymond W. Cohen sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $19.70, for a total transaction of $197,000.00. Following the transaction, the director now directly owns 43,031 shares of the company’s stock, valued at $847,710.70. The disclosure for this sale can be found here. Insiders sold a total of 95,385 shares of company stock valued at $1,836,984 over the last ninety days. 38.50% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of BLFS. Bank of Montreal Can purchased a new position in BioLife Solutions during the 2nd quarter worth approximately $114,000. Kovack Advisors Inc. purchased a new position in BioLife Solutions during the 2nd quarter worth approximately $126,000. OppenheimerFunds Inc. purchased a new position in BioLife Solutions during the 2nd quarter worth approximately $130,000. Jane Street Group LLC purchased a new position in BioLife Solutions during the 2nd quarter worth approximately $173,000. Finally, Shepherd Kaplan Krochuk LLC purchased a new position in BioLife Solutions during the 2nd quarter worth approximately $183,000. 27.51% of the stock is owned by institutional investors.

About BioLife Solutions

BioLife Solutions, Inc develops, manufactures, and markets patented tissue hypothermic storage and cryopreservation freeze media products for cells, tissues, and organs in the United States. Its products are serum-free and protein-free solutions, which are formulated to reduce preservation-induced, and delayed-onset cell damage and death.

Read More: Price to Earnings Ratio (PE)

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