BioLife Solutions (BLFS) PT Raised to $26 at Maxim Group

August 9, 2018 1:07 PM EDT
Get Alerts BLFS Hot Sheet
Price: $47.21 -0.59%

Rating Summary:
    11 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 8 | New: 24
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Maxim Group raised its price target on BioLife Solutions (NASDAQ: BLFS) to $26.00 (from $18.00) while maintaining a Buy rating.

Analyst Jason McCarthy said the company's transformation is complete and it is now a profitable company.

"Valuation continues to rise, in-line with our thesis that Biolife is the tangential play to a rapidly growing cell therapy space. Important in our view is that once an efficacious cell therapy, even at the preclinical stage, is using a particular media (i.e. Biolife's) and is progressing, the last thing one wants to do is change to a new media," McCarthy commented. "As such, BioLife becomes "sticky" to that cell therapy, from preclinical to commercial, which is what should drive long-term growth."

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