BioLife Solutions, Inc. Forecasted to Post FY2024 Earnings of ($0.56) Per Share (NASDAQ:BLFS)

BioLife Solutions, Inc. (NASDAQ:BLFS) – Equities researchers at HC Wainwright issued their FY2024 earnings per share (EPS) estimates for shares of BioLife Solutions in a research note issued to investors on Monday, September 30th. HC Wainwright analyst Y. Chen forecasts that the medical equipment provider will post earnings of ($0.56) per share for the year. HC Wainwright currently has a “Buy” rating and a $29.00 target price 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’ FY2025 earnings at ($0.37) EPS.

BioLife Solutions (NASDAQ:BLFS) last posted its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.08. BioLife Solutions had a negative return on equity of 10.75% and a negative net margin of 59.88%. The business had revenue of $28.33 million for the quarter, compared to analyst estimates of $23.80 million.

A number of other brokerages also recently issued reports on BLFS. Northland Securities raised their price objective on BioLife Solutions from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. TD Cowen raised their price objective on BioLife Solutions from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Craig Hallum raised their price objective on BioLife Solutions from $23.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. Based on data from MarketBeat, BioLife Solutions has an average rating of “Moderate Buy” and an average target price of $26.67.

BioLife Solutions Stock Up 0.2 %

Shares of NASDAQ:BLFS opened at $24.33 on Wednesday. The business has a 50-day moving average price of $24.58 and a 200 day moving average price of $21.34. The company has a current ratio of 2.86, a quick ratio of 1.81 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 -17.18 and a beta of 1.87. BioLife Solutions has a 12-month low of $8.92 and a 12-month high of $26.73.

Institutional Investors Weigh In On BioLife Solutions

Several institutional investors have recently added to or reduced their stakes in BLFS. Goldman Sachs Group Inc. lifted its stake in BioLife Solutions by 1,038.9% during 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 purchasing an additional 2,191,002 shares during the last quarter. Mutual of America Capital Management LLC purchased a new stake in BioLife Solutions during the second quarter worth approximately $8,592,000. Vanguard Group Inc. lifted its stake in BioLife Solutions by 11.5% in the first quarter. Vanguard Group Inc. now owns 2,868,335 shares of the medical equipment provider’s stock valued at $53,208,000 after buying an additional 296,727 shares during the last quarter. Granahan Investment Management LLC lifted its stake 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 valued at $21,006,000 after buying an additional 240,001 shares during the last quarter. Finally, Raymond James & Associates purchased a new stake in BioLife Solutions in the second quarter valued at approximately $2,876,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Insider Buying and Selling at BioLife Solutions

In other news, CRO Garrie Richardson sold 3,070 shares of BioLife Solutions stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $25.12, for a total value of $77,118.40. Following the completion of the transaction, the executive now owns 114,773 shares in the company, valued at approximately $2,883,097.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Aby J. Mathew sold 10,000 shares of BioLife Solutions stock in a transaction dated 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 transaction, the executive vice president now owns 317,716 shares in the company, valued at approximately $7,593,412.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Garrie Richardson sold 3,070 shares of BioLife Solutions stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $25.12, for a total value of $77,118.40. Following the completion of the transaction, 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. Insiders sold a total of 16,944 shares of company stock valued at $405,619 in the last three months. 2.20% of the stock is owned by corporate insiders.

About BioLife Solutions

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.