HC Wainwright Cuts BioLife Solutions (NASDAQ:BLFS) Price Target to $17.00

BioLife Solutions (NASDAQ:BLFS) had its target price trimmed by HC Wainwright from $26.00 to $17.00 in a research report sent to investors on Monday morning, The Fly reports. The firm currently has a buy rating on the medical equipment provider’s stock.

Several other research firms have also recently weighed in on BLFS. ValuEngine cut BioLife Solutions from a buy rating to a hold rating in a research note on Saturday, March 14th. BidaskClub upgraded BioLife Solutions from a sell rating to a hold rating in a research note on Friday, February 14th. TheStreet cut BioLife Solutions from a b- rating to a c rating in a research note on Thursday, March 12th. Lake Street Capital began coverage on BioLife Solutions in a research note on Monday, February 24th. They issued a buy rating and a $25.00 price target for the company. Finally, B. Riley dropped their price target on BioLife Solutions from $27.00 to $24.00 and set a buy rating for the company in a research note on Thursday, March 12th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $21.42.

NASDAQ BLFS traded up $0.90 on Monday, hitting $10.08. 283,300 shares of the company’s stock were exchanged, compared to its average volume of 205,892. The stock has a 50-day moving average of $13.04 and a 200-day moving average of $15.69. The company has a current ratio of 6.49, a quick ratio of 5.33 and a debt-to-equity ratio of 0.01. BioLife Solutions has a 52 week low of $7.37 and a 52 week high of $21.18. The stock has a market cap of $188.37 million, a price-to-earnings ratio of 22.91, a P/E/G ratio of 7.37 and a beta of 1.21.

BioLife Solutions (NASDAQ:BLFS) last released its earnings results on Wednesday, March 11th. The medical equipment provider reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.04. BioLife Solutions had a return on equity of 3.33% and a net margin of 40.42%. The firm had revenue of $8.30 million during the quarter, compared to analysts’ expectations of $8.72 million. As a group, analysts predict that BioLife Solutions will post 0.13 earnings per share for the current year.

In related news, CEO Michael Rice sold 18,750 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $8.44, for a total transaction of $158,250.00. Following the completion of the transaction, the chief executive officer now directly owns 184,574 shares of the company’s stock, valued at approximately $1,557,804.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Greef Roderick De sold 10,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $15.46, for a total value of $154,600.00. Following the transaction, the chief financial officer now directly owns 35,859 shares of the company’s stock, valued at $554,380.14. The disclosure for this sale can be found here. Insiders sold a total of 126,719 shares of company stock valued at $1,652,378 over the last quarter. 27.00% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. raised its position in BioLife Solutions by 14.5% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,079 shares of the medical equipment provider’s stock worth $99,000 after purchasing an additional 771 shares during the last quarter. Citigroup Inc. raised its position in BioLife Solutions by 101.4% during the 4th quarter. Citigroup Inc. now owns 1,555 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 783 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in BioLife Solutions by 8.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,398 shares of the medical equipment provider’s stock worth $298,000 after purchasing an additional 1,402 shares during the last quarter. Verus Capital Partners LLC bought a new position in BioLife Solutions during the 4th quarter worth $32,000. Finally, Janney Montgomery Scott LLC raised its position in BioLife Solutions by 18.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 17,615 shares of the medical equipment provider’s stock worth $285,000 after purchasing an additional 2,750 shares during the last quarter. 50.62% of the stock is owned by institutional investors and hedge funds.

BioLife Solutions Company Profile

BioLife Solutions, Inc develops, manufactures, and markets grade cell and tissue hypothermic storage and cryopreservation freeze media products for cells, tissues, and organs in the United States. Its products are serum-free and protein-free solutions, which are formulated to reduce preservation-induced cell damage and death.

Read More: Hold Rating

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Analyst Recommendations for BioLife Solutions (NASDAQ:BLFS)

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