Maxim Group Reaffirms Their Buy Rating on BioLife Solutions

By Jason Carr

Maxim Group analyst Gabrielle Zhou reiterated a Buy rating on BioLife Solutions (NASDAQ: BLFS) today and set a price target of $4. The company’s shares opened today at $2.19.

Zhou observed:

“BioLife Solution announced a supply agreement with Adaptimuune to provide CryoStor (freezing media) for Adaptimmune’s SPEAR T-cells.”

According to TipRanks.com, Zhou is ranked 0 out of 5 stars with an average return of -14.4% and a 30.9% success rate. Zhou covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, ContraVir Pharmaceuticals Inc, and Sciclone Pharmaceuticals.

BioLife Solutions has an analyst consensus of Moderate Buy, with a price target consensus of $4.

Based on BioLife Solutions’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $2.37 million and GAAP net loss of $870.3K. In comparison, last year the company earned revenue of $1.85 million and had a GAAP net loss of $1.23 million.

Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BLFS in relation to earlier this year. Earlier this month, Aby Mathew, the CTO of BLFS bought 24,285 shares for a total of $33,999.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

BioLife Solutions, Inc. engages in the development, manufacture, and marketing of portfolio of biopreservation tools for cells, tissues, and organs. Its products include CryoStor, BloodStor, HypoThermosol FRS, Cell Thawing Media, and PrepaStor. The company was founded by Boris Rubinsky in 1998 and it is headquartered in Bothell, WA.