BioLife Solutions Received its Third Buy in a Row


After B.Riley FBR and Northland Securities gave BioLife Solutions (NASDAQ: BLFS) a Buy rating last month, the company received another Buy, this time from Maxim Group. Analyst Jason McCarthy maintained a Buy rating on BioLife Solutions (NASDAQ: BLFS) today and set a price target of $18. The company’s shares opened today at $13.27.

McCarthy observed:

“BioLife shares are up today (15%+) following the company’s announcement of preliminary cell preservation media revenue for 2Q18 coming in at $5.2M, up 36% sequentially and 103% y/y. The company raised guidance to $18.5M-$20M, from $14.5M-$15.5M. The company is cash flow positive and also currently has $14M in cash on the balance sheet. We have reduced our discount rate to 15%, from 30% and are increasing our 12-month price target to $18, from $12.”

According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 10.1% and a 39.3% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.

Currently, the analyst consensus on BioLife Solutions is a Moderate Buy with an average price target of $13, a -2.0% downside from current levels. In a report released today, Northland Securities also maintained a Buy rating on the stock with a $16 price target.

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The company has a one-year high of $15.49 and a one-year low of $2.40. Currently, BioLife Solutions has an average volume of 185.3K.

Based on the recent corporate insider activity of 33 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.

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