In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on BioLife Solutions (BLFS), with a price target of $19. The company’s shares closed yesterday at $12.28.
McCarthy wrote:
“BioLife reported 3Q18 with $5.3M in revenue, a y/y increase of 79% and 2.2% sequentially. Gross margin of 70% was flat vs. the prior quarter, but up from 63% in the year-ago period. BioLife reported a $1.2M net profit, marking the third consecutive profitable quarter, and with $32.4M in cash, the company is well-positioned to execute on its M&A-based growth strategy.”
According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 5.3% and a 40.9% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.
BioLife Solutions has an analyst consensus of Moderate Buy, with a price target consensus of $20.50.
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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.
