HC Wainwright Weighs in on BioLife Solutions, Inc.’s Q3 2024 Earnings (NASDAQ:BLFS)

by · The Markets Daily

BioLife Solutions, Inc. (NASDAQ:BLFS – Free Report) – Research analysts at HC Wainwright issued their Q3 2024 earnings per share estimates for BioLife Solutions in a report issued on Monday, September 30th. HC Wainwright analyst Y. Chen expects that the medical equipment provider will earn ($0.09) per share for the quarter. HC Wainwright has a “Buy” rating and a $29.00 price target on the stock. The consensus estimate for BioLife Solutions’ current full-year earnings is ($0.36) per share. HC Wainwright also issued estimates for BioLife Solutions’ Q4 2024 earnings at ($0.09) EPS.

BioLife Solutions (NASDAQ:BLFS – Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.08. The firm had revenue of $28.33 million during the quarter, compared to the consensus estimate of $23.80 million. BioLife Solutions had a negative return on equity of 10.75% and a negative net margin of 59.88%.

A number of other equities analysts also recently issued reports on the company. TD Cowen upped their price target on BioLife Solutions from $20.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Craig Hallum upped their price target on BioLife Solutions from $23.00 to $30.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Northland Securities increased their price objective on BioLife Solutions from $26.00 to $28.00 and gave the company 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 stock. Based on data from MarketBeat, BioLife Solutions currently has an average rating of “Moderate Buy” and an average target price of $26.67.

View Our Latest Analysis on BLFS

BioLife Solutions Stock Performance

Shares of BLFS opened at $24.29 on Tuesday. The stock has a 50 day moving average price of $24.54 and a 200 day moving average price of $21.32. The company has a quick ratio of 1.81, a current ratio of 2.86 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -16.97 and a beta of 1.87. BioLife Solutions has a 52-week low of $8.92 and a 52-week high of $26.73.

Insider Activity

In other news, EVP Aby J. Mathew sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $23.90, for a total value of $239,000.00. Following the completion of the sale, the executive vice president now directly owns 317,716 shares of the company’s stock, valued at $7,593,412.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Aby J. Mathew sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $23.90, for a total transaction of $239,000.00. Following the completion of the sale, the executive vice president now owns 317,716 shares in the company, valued at $7,593,412.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Garrie Richardson sold 3,070 shares of the company’s stock in a transaction that occurred 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 sale, the executive now owns 114,773 shares of the company’s stock, valued at approximately $2,883,097.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,944 shares of company stock valued at $405,619. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BioLife Solutions

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of BioLife Solutions by 11.5% during the first quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider’s stock worth $53,208,000 after purchasing an additional 296,727 shares during the last quarter. Goldman Sachs Group Inc. raised its position in BioLife Solutions by 1,038.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,401,899 shares of the medical equipment provider’s stock worth $39,031,000 after acquiring an additional 2,191,002 shares in the last quarter. William Blair Investment Management LLC raised its position in BioLife Solutions by 0.8% in the first quarter. William Blair Investment Management LLC now owns 1,726,712 shares of the medical equipment provider’s stock worth $32,031,000 after acquiring an additional 13,785 shares in the last quarter. Fred Alger Management LLC raised its position in BioLife Solutions by 6.0% in the second quarter. Fred Alger Management LLC now owns 1,579,138 shares of the medical equipment provider’s stock worth $33,841,000 after acquiring an additional 88,840 shares in the last quarter. Finally, Granahan Investment Management LLC raised its position in BioLife Solutions by 22.8% in the fourth quarter. Granahan Investment Management LLC now owns 1,292,675 shares of the medical equipment provider’s stock worth $21,006,000 after acquiring an additional 240,001 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

About BioLife Solutions

(Get Free Report)

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.

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