FY2024 EPS Forecast for BioLife Solutions Lifted by Analyst

BioLife Solutions, Inc. (NASDAQ:BLFS) – Northland Capmk raised their FY2024 earnings per share estimates for BioLife Solutions in a note issued to investors on Wednesday, November 13th. Northland Capmk analyst C. Byrnes now anticipates that the medical equipment provider will post earnings per share of ($0.28) for the year, up from their prior estimate of ($0.47). The consensus estimate for BioLife Solutions’ current full-year earnings is ($0.29) per share. Northland Capmk also issued estimates for BioLife Solutions’ Q4 2024 earnings at ($0.01) EPS and FY2025 earnings at ($0.15) EPS.

Other analysts also recently issued research reports about the company. HC Wainwright started coverage on BioLife Solutions in a research report on Monday, September 30th. They issued a “buy” rating and a $29.00 price objective for the company. Craig Hallum increased their price target on shares of BioLife Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. TD Cowen raised their price target on shares of BioLife Solutions from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, 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. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.83.

BioLife Solutions Trading Down 2.9 %

NASDAQ BLFS opened at $21.02 on Monday. The stock has a 50-day moving average of $24.00 and a 200-day moving average of $22.82. The company has a current ratio of 2.78, a quick ratio of 1.81 and a debt-to-equity ratio of 0.03. BioLife Solutions has a 1-year low of $11.40 and a 1-year high of $28.88. The firm has a market cap of $975.12 million, a PE ratio of -19.83 and a beta of 1.88.

Hedge Funds Weigh In On BioLife Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in BLFS. Mark Sheptoff Financial Planning LLC bought a new position in shares of BioLife Solutions in the 3rd quarter worth about $28,000. 1620 Investment Advisors Inc. purchased a new position in BioLife Solutions during the second quarter valued at $35,000. Isthmus Partners LLC boosted its holdings in BioLife Solutions by 34.4% in the second 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 in the last quarter. Quest Partners LLC purchased a new stake in shares of BioLife Solutions in the third quarter worth $57,000. Finally, GAMMA Investing LLC increased its holdings in shares of 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 acquiring an additional 748 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Insider Buying and Selling at BioLife Solutions

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

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.