BioLife Solutions (NASDAQ:BLFS) Price Target Raised to $32.00

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

BLFS has been the topic of a number of other reports. TD Cowen increased their price target on BioLife Solutions from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Northland Securities boosted their price target on shares of BioLife Solutions from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Finally, HC Wainwright started coverage on shares of BioLife Solutions in a report 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.com, BioLife Solutions has an average rating of “Moderate Buy” and an average price target of $27.83.

BioLife Solutions Trading Down 2.9 %

BioLife Solutions stock opened at $21.02 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.81 and a current ratio of 2.78. BioLife Solutions has a 1 year low of $11.40 and a 1 year high of $28.88. The firm’s 50-day moving average is $24.00 and its 200-day moving average is $22.75. The company has a market cap of $975.12 million, a P/E ratio of -19.83 and a beta of 1.88.

Insider Transactions at BioLife Solutions

In other news, CRO Garrie Richardson sold 3,070 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $25.12, for a total value of $77,118.40. Following the completion of the sale, the executive now 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 through this link. Also, EVP Aby J. Mathew sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $23.28, for a total value of $232,800.00. Following the completion of the sale, the executive vice president now owns 317,716 shares of the company’s stock, valued at approximately $7,396,428.48. This trade represents a 3.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,471 shares of company stock valued at $656,330. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of BioLife Solutions

Several institutional investors have recently modified their holdings of the company. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of BioLife Solutions during the third quarter valued at $28,000. 1620 Investment Advisors Inc. purchased a new stake in shares of BioLife Solutions during the second quarter valued at $35,000. Quest Partners LLC purchased a new stake in shares of BioLife Solutions during the third quarter valued at $57,000. GAMMA Investing LLC raised its position in BioLife Solutions by 29.4% during the third quarter. GAMMA Investing LLC now owns 3,295 shares of the medical equipment provider’s stock valued at $83,000 after buying an additional 748 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in BioLife Solutions during the second quarter valued at $122,000. Institutional investors and hedge funds own 93.24% of the company’s stock.

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.