Biolife Solutions (BLFS) Stock Rating Reaffirmed by Maxim Group

Maxim Group reissued their buy rating on shares of Biolife Solutions (NASDAQ:BLFS) in a research report released on Monday morning. The brokerage currently has a $9.00 price objective on the medical equipment provider’s stock.

“BioLife announced preliminary 1Q18 biopreservation media revenues of $3.8M, up 22% from 4Q17, and above consensus estimates of $3.2M. This is the 11th consecutive quarter of record sales for the company and management lifted 2018 guidance to $14.5M-$15.5M, from $13.6M-$14.7M. We have adjusted our model and increased revenue estimates for 2018 as well as outyears, the net result of which is our price target increases to $9, from $8.”,” the firm’s analyst commented.

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Separately, Northland Securities started coverage on shares of Biolife Solutions in a research note on Monday, March 12th. They issued an outperform rating for the company.

Shares of NASDAQ:BLFS opened at $6.89 on Monday. Biolife Solutions has a fifty-two week low of $2.01 and a fifty-two week high of $7.53. The stock has a market cap of $98.45, a P/E ratio of -32.81 and a beta of 0.37.

Biolife Solutions (NASDAQ:BLFS) last posted its earnings results on Thursday, March 8th. The medical equipment provider reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The firm had revenue of $3.13 million for the quarter, compared to analyst estimates of $3.10 million. Biolife Solutions had a negative net margin of 22.82% and a negative return on equity of 37.37%. research analysts expect that Biolife Solutions will post -0.09 earnings per share for the current year.

In other news, CEO Michael Rice sold 12,540 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $5.26, for a total value of $65,960.40. Following the completion of the sale, the chief executive officer now directly owns 152,057 shares of the company’s stock, valued at approximately $799,819.82. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 37,620 shares of company stock valued at $201,894. Company insiders own 36.80% of the company’s stock.

Several large investors have recently modified their holdings of BLFS. Wells Fargo & Company MN acquired a new stake in shares of Biolife Solutions in the 4th quarter worth approximately $111,000. Millennium Management LLC lifted its stake in shares of Biolife Solutions by 901.6% in the 4th quarter. Millennium Management LLC now owns 182,550 shares of the medical equipment provider’s stock worth $1,095,000 after acquiring an additional 164,324 shares during the period. Finally, Essex Investment Management Co. LLC lifted its stake in shares of Biolife Solutions by 199.8% in the 4th quarter. Essex Investment Management Co. LLC now owns 254,096 shares of the medical equipment provider’s stock worth $1,525,000 after acquiring an additional 169,341 shares during the period. 12.11% of the stock is owned by institutional investors.

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About Biolife Solutions

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

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