BioLife Solutions (NASDAQ:BLFS) Sets New 1-Year High – Time to Buy?

Shares of BioLife Solutions, Inc. (NASDAQ:BLFS) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $38.25 and last traded at $38.2740, with a volume of 128163 shares traded. The stock had previously closed at $37.18.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BLFS. Jefferies Financial Group cut BioLife Solutions from a “buy” rating to a “hold” rating and upped their price target for the stock from $30.00 to $31.00 in a report on Thursday, July 23rd. Maxim Group lowered BioLife Solutions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Stephens restated an “equal weight” rating and issued a $31.00 price target (down from $32.00) on shares of BioLife Solutions in a report on Monday, July 27th. Benchmark lowered shares of BioLife Solutions from a “buy” rating to a “hold” rating in a report on Monday, August 10th. Finally, William Blair set a $31.00 target price on shares of BioLife Solutions in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, BioLife Solutions currently has a consensus rating of “Hold” and an average price target of $31.38.

BioLife Solutions Stock Down 0.9%

The company’s fifty day moving average is $34.45 and its 200 day moving average is $27.14. The stock has a market cap of $1.85 billion, a PE ratio of 32.53 and a beta of 1.91.

BioLife Solutions (NASDAQ:BLFS) last issued its earnings results on Thursday, August 6th. The medical equipment provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.88. BioLife Solutions had a net margin of 53.29% and a return on equity of 2.70%. The business had revenue of $28.47 million for the quarter, compared to the consensus estimate of $27.80 million. Equities analysts expect that BioLife Solutions, Inc. will post 0.03 EPS for the current year.

Institutional Investors Weigh In On BioLife Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Wyoming acquired a new position in shares of BioLife Solutions in the first quarter worth about $52,000. Hantz Financial Services Inc. raised its position in shares of BioLife Solutions by 42.4% in the 4th quarter. Hantz Financial Services Inc. now owns 2,673 shares of the medical equipment provider’s stock valued at $65,000 after purchasing an additional 796 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of BioLife Solutions during the 2nd quarter valued at approximately $201,000. AXQ Capital LP purchased a new position in shares of BioLife Solutions during the 2nd quarter valued at approximately $203,000. Finally, Cetera Investment Advisers grew its position in shares of BioLife Solutions by 26.8% during the first quarter. Cetera Investment Advisers now owns 11,614 shares of the medical equipment provider’s stock worth $222,000 after buying an additional 2,458 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

BioLife Solutions Company Profile

BioLife Solutions, Inc develops and supplies tools and services used in the development, manufacture, preservation and distribution of cell and gene therapies. Its products are designed to help maintain the viability and functionality of cells, tissues and other biological materials during processing, freezing, storage and transportation.

The company’s portfolio includes cell and tissue preservation media, thawing and processing solutions, cryogenic storage systems, controlled-rate freezing equipment and related bioproduction technologies.