Craig Hallum Increases BioLife Solutions (NASDAQ:BLFS) Price Target to $32.00

BioLife Solutions (NASDAQ:BLFS) had its target price hoisted by Craig Hallum from $30.00 to $32.00 in a report released on Wednesday,Benzinga reports. The firm currently has a buy rating on the medical equipment provider’s stock.

A number of other brokerages have also recently issued reports on BLFS. TD Cowen upped their price objective on shares of BioLife Solutions from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Northland Securities upped their price target on BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Finally, HC Wainwright started coverage on BioLife Solutions in a research note on Monday, September 30th. They issued a “buy” rating and a $29.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to MarketBeat, BioLife Solutions has a consensus rating of “Moderate Buy” and an average price target of $27.83.

BioLife Solutions Price Performance

NASDAQ BLFS opened at $21.02 on Wednesday. The company has a 50 day moving average price of $24.00 and a two-hundred day moving average price of $22.78. BioLife Solutions has a 12-month low of $11.40 and a 12-month high of $28.88. The stock has a market capitalization of $975.05 million, a PE ratio of -19.83 and a beta of 1.88. The company has a quick ratio of 1.81, a current ratio of 2.78 and a debt-to-equity ratio of 0.03.

Insider Activity

In other news, EVP Aby J. Mathew sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $23.90, for a total value of $239,000.00. Following the completion of the sale, the executive vice president now directly owns 317,716 shares of the company’s stock, valued at approximately $7,593,412.40. This represents a 3.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Garrie Richardson sold 3,070 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $25.12, for a total transaction of $77,118.40. Following the transaction, the executive now directly owns 114,773 shares in the company, valued at $2,883,097.76. This trade represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,471 shares of company stock valued at $656,330. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On BioLife Solutions

Several hedge funds have recently made changes to their positions in the stock. Mark Sheptoff Financial Planning LLC bought a new position in BioLife Solutions in the third quarter worth $28,000. 1620 Investment Advisors Inc. acquired a new position in shares of BioLife Solutions in the 2nd quarter valued at $35,000. Isthmus Partners LLC lifted its holdings in shares of BioLife Solutions by 34.4% during the 2nd quarter. Isthmus Partners LLC now owns 165,247 shares of the medical equipment provider’s stock worth $35,000 after acquiring an additional 42,265 shares during the period. Quest Partners LLC acquired a new stake in shares of BioLife Solutions during the 3rd quarter valued at about $57,000. Finally, GAMMA Investing LLC boosted its position in shares of 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. 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.