Northland Securities analyst Carl Byrnes maintained a Buy rating on BioLife Solutions (BLFS) today and set a price target of $35.00. The company’s shares closed last Thursday at $31.39, close to its 52-week high of $33.98.
According to TipRanks.com, Byrnes is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -13.3% and a 29.5% success rate. Byrnes covers the Healthcare sector, focusing on stocks such as Opiant Pharmaceuticals, Adamas Pharmaceuticals, and Aridis Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for BioLife Solutions with a $34.10 average price target.
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Based on BioLife Solutions’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $9.92 million and GAAP net loss of $16.38 million. In comparison, last year the company earned revenue of $6.7 million and had a net profit of $4.25 million.
Based on the recent corporate insider activity of 81 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BLFS in relation to earlier this year.
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BioLife Solutions, Inc. engages in the development, manufacture, and marketing of biopreservation tools for cells and tissues. Its product offerings include proprietary hypothermic storage and cryopreservation freeze media products for cells, tissues, and organs; generic blood stem cell freezing and cell thawing media products; and custom product formulation and custom packaging services. The company was founded by Boris Rubinsky in 1998 and it is headquartered in Bothell, WA.
