In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on BioLife Solutions (BLFS – Research Report), with a price target of $34.00.
Jason McCarthy’s rating is based on BioLife Solutions’ strong financial performance and promising growth prospects. The company reported a significant increase in revenue for the fourth quarter of 2024, with a 31% year-over-year growth, and ended the period with a robust cash position of $109 million. This financial stability is expected to support ongoing operations and potential strategic initiatives.
Furthermore, BioLife Solutions is focusing on its core portfolio of cell and gene therapy tools, which are anticipated to drive substantial growth in 2025. The company is poised to benefit from eight additional customer approvals, including label and geographic expansions, which could enhance revenue streams. Additionally, the management’s strategy to leverage cross-selling opportunities and further develop its product lines through internal R&D could potentially double or triple revenue per dose. These factors collectively contribute to McCarthy’s optimistic outlook and Buy rating for the stock.
According to TipRanks, McCarthy is an analyst with an average return of -20.3% and a 23.74% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group, Medicus Pharma Ltd, and Alterity Therapeutics.
In another report released today, Lake Street also maintained a Buy rating on the stock with a $30.00 price target.