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

BioLife Solutions (NASDAQ:BLFS) had its price objective hoisted by analysts at TD Cowen from $28.00 to $31.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. TD Cowen’s price objective would suggest a potential upside of 43.19% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Northland Securities increased their target price on shares of BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Craig Hallum increased 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. Finally, HC Wainwright initiated coverage on shares of BioLife Solutions in a research report on Monday, September 30th. They set a “buy” rating and a $29.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.83.

BioLife Solutions Stock Down 10.2 %

Shares of NASDAQ:BLFS opened at $21.65 on Wednesday. BioLife Solutions has a 52 week low of $11.40 and a 52 week high of $28.88. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.81 and a current ratio of 2.86. The company has a market capitalization of $998.93 million, a PE ratio of -20.42 and a beta of 1.88. The company has a 50 day moving average price of $24.05 and a two-hundred day moving average price of $22.72.

Insider Activity

In other news, CRO Garrie Richardson sold 3,070 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $25.12, for a total transaction of $77,118.40. Following the sale, the executive now directly owns 114,773 shares in the company, valued at $2,883,097.76. This represents a 2.61 % decrease in their ownership of the stock. 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 company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $23.90, for a total value of $239,000.00. Following the sale, the executive vice president now owns 317,716 shares in the company, valued at approximately $7,593,412.40. This represents 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 quarter. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BioLife Solutions

Large investors have recently added to or reduced their stakes in the company. Mark Sheptoff Financial Planning LLC purchased a new stake in BioLife Solutions during the third quarter valued at about $28,000. 1620 Investment Advisors Inc. bought a new stake in shares of BioLife Solutions in the second quarter worth about $35,000. Quest Partners LLC bought a new stake in BioLife Solutions during the 3rd quarter valued at approximately $57,000. GAMMA Investing LLC boosted its position in BioLife Solutions by 29.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock valued at $83,000 after acquiring an additional 748 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of BioLife Solutions during the second quarter valued at approximately $122,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

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.