Zacks Investment Research upgraded shares of BioLife Solutions Inc (BLFS) from N/A to OUTPERFORM on July 02, 2012, with a target price of $0.25.
Demand for biopreservation media is estimated to grow at an annual rate of almost 20% over the next several years, largely driven by rapid growth of the emerging field of regenerative medicine (including cell therapy and tissue engineering). BioLife's strategy is to build greater visibility and awareness of the benefits of their biopreservation products compared to the "home-brews" that currently dominate the market. Meanwhile, the company's contract manufacturing business, which is expected to generate $1MM – $2MM in revenue in 2012 as a result of the signing if a key customer during 2011, is expected to provide a source of near-term revenue and cash flow to help fund the further development and commercialization of the biopreservation media business, which is expected to provide the bulk of revenue and drive earnings for the long-term.
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