BioLife Solutions (NASDAQ:BLFS) Reaches New 52-Week High – Still a Buy?

BioLife Solutions, Inc. (NASDAQ:BLFS)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $38.10 and last traded at $38.10, with a volume of 1111 shares changing hands. The stock had previously closed at $37.10.

Wall Street Analysts Forecast Growth

BLFS has been the subject of several research analyst reports. William Blair set a $31.00 price target on shares of BioLife Solutions in a research report on Thursday, July 23rd. Wall Street Zen cut shares of BioLife Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Zacks Research raised shares of BioLife Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Maxim Group downgraded BioLife Solutions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Finally, TD Cowen lowered BioLife Solutions from a “buy” rating to a “hold” rating and cut their target price for the stock from $33.00 to $31.00 in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, BioLife Solutions presently has an average rating of “Hold” and an average price target of $31.38.

BioLife Solutions Trading Up 2.7%

The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 32.85 and a beta of 1.93. The firm has a 50 day moving average price of $30.34 and a two-hundred day moving average price of $24.88.

BioLife Solutions (NASDAQ:BLFS) last posted its earnings results on Thursday, August 6th. The medical equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $28.47 million during the quarter, compared to the consensus estimate of $27.80 million. As a group, research analysts forecast that BioLife Solutions, Inc. will post 0.03 earnings per share for the current year.

Hedge Funds Weigh In On BioLife Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in BLFS. California State Teachers Retirement System increased its holdings in BioLife Solutions by 3,057.9% in the 2nd quarter. California State Teachers Retirement System now owns 1,215,252 shares of the medical equipment provider’s stock valued at $34,319,000 after purchasing an additional 1,176,769 shares in the last quarter. AXQ Capital LP acquired a new position in shares of BioLife Solutions during the second quarter worth about $203,000. Strait & Sound Wealth Management LLC acquired a new position in shares of BioLife Solutions during the second quarter worth about $95,000. Ranger Investment Management L.P. purchased a new stake in shares of BioLife Solutions in the second quarter worth about $6,736,000. Finally, Summit Creek Advisors LLC purchased a new stake in shares of BioLife Solutions in the second quarter worth about $5,099,000. Institutional investors and hedge funds own 93.24% of the company’s stock.

BioLife Solutions Company Profile

BioLife Solutions (NASDAQ:BLFS) specializes in biopreservation and cold chain workflow solutions for cell and gene therapies, regenerative medicine and other advanced biologics. The company develops and markets proprietary cryopreservation media and technology platforms designed to maintain cell viability and functionality during processing, storage and transport. BioLife’s product portfolio addresses critical steps in the manufacturing and distribution of cell-based products, helping life science researchers and biopharmaceutical manufacturers protect and preserve living cells.

The company’s flagship offerings include CryoStor, a family of serum-free cryopreservation media; HypoThermosol, a hypothermic storage solution for short-term cell and tissue preservation; and the ThawSTAR system, an automated cell thawing instrument that delivers controlled and reproducible warming of frozen cell therapies.