Maxim Group Believes BioLife Solutions (BLFS) Won’t Stop Here


In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on BioLife Solutions (NASDAQ: BLFS), with a price target of $26. The company’s shares opened today at $22, close to its 52-week high of $22.86.

McCarthy observed:

“BioLife reported 2Q18 with $5.2M in revenue, up 36% vs. 1Q18, from media product sales as well as improved gross margin of 70%, from 64% in 1Q18. The latter stems mostly from volume effects and increase ASP (Average Sale Price). All good but the most important takeaway; Biolife reported a net profit for the first time since inception, earning $1.046M, or $0.05 per diluted share. The company ended the period with $15M in cash excluding the $20M private placement announced concurrently with the earnings release today.”

According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 12.2% and a 44.2% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.

Currently, the analyst consensus on BioLife Solutions is a Strong Buy with an average price target of $20.33.

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Based on BioLife Solutions’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $3,482. In comparison, last year the company had a GAAP net loss of $768.2K.

Based on the recent corporate insider activity of 32 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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