BioLife Solutions (NASDAQ:BLFS) Price Target Raised to $31.00 at TD Cowen

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

Other analysts also recently issued research reports about the stock. HC Wainwright assumed coverage on shares of BioLife Solutions in a research report on Monday, September 30th. They issued a “buy” rating and a $29.00 price target for the company. Craig Hallum upped their price objective on shares of BioLife Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Northland Securities upped their price objective on shares of BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BioLife Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.83.

BioLife Solutions Stock Down 2.9 %

BLFS stock opened at $21.02 on Wednesday. The company has a fifty day moving average price of $24.00 and a 200 day moving average price of $22.75. BioLife Solutions has a 12 month low of $11.40 and a 12 month high of $28.88. The company has a market cap of $975.12 million, a price-to-earnings 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 Activity

In other news, CRO Garrie Richardson sold 3,070 shares of the stock in a transaction dated 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 owns 114,773 shares in the company, valued at $2,883,097.76. This trade represents a 2.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Aby J. Mathew sold 10,000 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 317,716 shares in the company, valued at approximately $7,396,428.48. The trade was a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,471 shares of company stock worth $656,330 in the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BioLife Solutions

Large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its stake in BioLife Solutions by 249.5% in the 1st quarter. BNP Paribas Financial Markets now owns 53,515 shares of the medical equipment provider’s stock valued at $993,000 after acquiring an additional 38,201 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in BioLife Solutions in the 2nd quarter valued at about $466,000. Vanguard Group Inc. boosted its stake in shares of BioLife Solutions by 11.5% during the 1st quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider’s stock worth $53,208,000 after purchasing an additional 296,727 shares during the last quarter. Isthmus Partners LLC raised its position in shares of BioLife Solutions by 34.4% in the second quarter. Isthmus Partners LLC now owns 165,247 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 42,265 shares during the last quarter. Finally, Mutual of America Capital Management LLC acquired a new position in shares of BioLife Solutions in the second quarter valued at approximately $8,592,000. 93.24% of the stock is owned by institutional investors and hedge funds.

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.