In a report released today, George Zavoico from B.Riley FBR reiterated a Buy rating on BioLife Solutions (BLFS), with a price target of $22. The company’s shares opened today at $11.95.
Zavoico said:
“Last night, after market close, BioLife Solutions, Inc. reported financial results for 3Q18 and provided an update of corporate activities. BioLife reported a record net income of $1.23M, or $0.07 per basic share, which beat street estimates of $0.06 per share, as well as our estimates of $1.07M or $0.06 per share. Earnings growth was driven by record revenue of $5.3M that BioLife preannounced on 10/01, with gross and operating margins of 70% and 23%, respectively, maintaining the strong margin improvements achieved in the prior quarter. We continue to view BioLife as a macro investment in the regenerative medicine and cell therapy (RMCT) space since the incorporation of BioLife’s biopresevation media into cGMP production protocols creates a sticky relationship with their RMCT customers.”
According to TipRanks.com, Zavoico is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -4.4% and a 36.8% success rate. Zavoico covers the Healthcare sector, focusing on stocks such as Cellular Biomedicine Group, Catalyst Biosciences Inc, and Actinium Pharmaceuticals.
Currently, the analyst consensus on BioLife Solutions is a Moderate Buy with an average price target of $20.50, representing a 71.5% upside. In a report released today, Maxim Group also maintained a Buy rating on the stock with a $19 price target.
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Based on BioLife Solutions’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $1.14 million. In comparison, last year the company had a GAAP net loss of $318.7K.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock.
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BioLife Solutions, Inc. engages in the development, manufacture, and marketing of portfolio of biopreservation tools for cells, tissues, and organs including proprietary clinical grade cell and tissue hypothermic storage and cryopreservation freeze media. Its products include CryoStor, BloodStor, HypoThermosol FRS, and Cell Thawing Media.
