BioLife Solutions (BLFS) to Announce Quarterly Earnings

BioLife Solutions (NASDAQ:BLFS) is set to announce its latest quarterly earnings results after the market closes on Tuesday, November 12th. Analysts predict that the company will report earnings of negative $0.09 per share for the quarter. Additionally, BioLife Solutions has provided guidance for its fiscal year 2024.

Investors and interested parties wishing to participate in the conference call can register through the provided link.

The company previously reported its earnings on August 8th, where it exceeded expectations by posting a loss of $0.06 per share, which was better than the analysts' forecast of a loss of $0.14. BioLife Solutions also reported revenue of $28.33 million for that quarter, surpassing expectations of $23.80 million. The company faced challenges with a negative net margin of 59.88% and a negative return on equity of 10.75%. Moving forward, analysts anticipate that BioLife Solutions will average $0 EPS for the current fiscal year and maintain the same for the next fiscal year.

Current Stock Performance

On Tuesday, BLFS shares gained $0.15, bringing the stock price to $25.71. The trading volume for the day was 130,309 shares, significantly lower than the average volume of 366,239 shares. The stock has a market capitalization of $1.19 billion, with a PE ratio of -15.12 and a beta of 1.88. Over the past year, the stock has seen a low of $9.92 and a high of $26.73, with a 50-day moving average of $24.03 and a 200-day moving average of $22.32.

Research and Analyst Ratings

Recent analyses and research reports have given mixed insights into BioLife Solutions. On August 12th, Craig Hallum raised its price target from $23.00 to $30.00, giving the stock a “buy” rating. Similarly, HC Wainwright established coverage on BLFS, setting a price target of $29.00 with a “buy” rating. Northland Securities also increased its price target from $26.00 to $28.00, maintaining an “outperform” rating. However, one analyst rated it as a sell, while six others rated it as a buy. The consensus rating stands at “Moderate Buy,” with a price target of $26.67 according to MarketBeat.com.

Insider Transactions

In related news, some insider trading activity has been noted. On September 16th, CRO Garrie Richardson sold 3,070 shares at an average price of $25.12, totaling around $77,118. Following the sale, Richardson retains 114,773 shares valued at approximately $2.88 million. Additionally, EVP Aby J. Mathew sold 10,000 shares on October 15th, yielding around $232,800 while maintaining 317,716 shares valued at $7.40 million. In total, insiders sold 27,044 shares in the past three months, representing a slight decrease in their combined stock ownership, which is now at 2.20% of the total shares.

About BioLife Solutions

BioLife Solutions, Inc. specializes in developing, manufacturing, and marketing tools and services for the cell and gene therapy (CGT) industry. Its products are utilized in both research and commercial applications related to biologic therapies across various global markets including the United States, Europe, and the Middle East.

BioLife, Earnings, Stock