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