BioLife Solutions Share Price Forecast September 2021 – Time to Buy BLFS?
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Shares of Washington- based American biotech company BioLife Solutions (NASDAQ: BLFS) are in the red today after closing at $53.13 as of September 7th (23:35 UTC-4). The company has experienced quite a surge in value in recent months which has attracted the attention of an increasing number of investors.
BioLife Solutions – Technical Analysis
According to the financial statement from BioLife Solutions, the market cap of the company is at $2.168 billion with total assets worth $520.969 million. Income from 2020 was at $48.09 million with a profit margin of 5.55%, compared to $27.37 million in 2019. The shares have experienced a great august 2021, experiencing a 24.4% growth over the month.
Moving averages for BioLife such as Exponential Moving Average (100)(44.20), Simple Moving Average (100)(41.41), Exponential Moving Average (200)(39.43), and Simple Moving Average (200)(40.19) are indicating a buy action. On the other hand, oscillators such as Relative Strength Index (14)(54.86), Stochastic %K (14, 3, 3)(61.64), Commodity Channel Index (20)(31.70), and Average Directional Index (14)(28.82) are neutral.
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Recent Developments
BioLife acquired privately-held SciSafe, which is a company that produces biological and pharmaceutical storage units targeted at the same pool of clients as its soon-to-be owner, in addition to top pharmaceutical companies. This was a welcome addition to the company’s arsenal, providing value to their cell and gene therapy customers through an established business with an excellent reputation.
As a manufacturer and supplier of lab freezers, thaw systems, and cold-chain packaging, BioLife is well-positioned to tore deliver cell and gene therapies. These products have also been in demand during the recent COVID health pandemic where it increasingly needed to transport and deliver COVID-19 vaccines at certain temperatures. The shares experienced a surge last month for a variety of reasons.
One of the biggest news out of the company was on August 9th, when it was announced that the company was acquiring Sexton Biotechnologies, a private company that is already owned a percentage of. According to company statements, the newly acquired Sexton Biotechnologies has products already in use in 50 ongoing cell therapy clinical trials. The acquisition which is scheduled to be completed by September is expected to add about $2 million in revenue in 2021 and $8 million in revenue for 2022.
Another reason for the surge was its second-quarter earnings, which indicated revenues of $31.2 million which is up sequentially by 85% and year over year by 215%. Compared to a loss of $16.4 million in 2020, the same quarter this year delivered a profit of $7.9 million, further improving the company’s bottom line.
Should You Buy BLFS Shares?
Perhaps the biggest news that would interest investors about BioLife is its addition to the S&P SmallCap 600 Index, as announced on 25th August. This allows the company’s shares to be automatically purchased by index funds, boosting the values of the shares. The jump in August is a part of a much larger long-term upswing for the company, which has increased by more than 33% this year.
The more positive news was added by the company as it declared that it has gained new gained 200 new biotech customers across its various platforms in the second quarter. However, the shares seem to be priced a bit high as indicated by its price to earnings ratio of 1079.88. Considering this now is not the time to pick up BLFS shares.
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