BioLife Solutions initiated with a Buy at Jefferies

Jefferies analyst Matthew Stanton initiated coverage of BioLife Solutions with a Buy rating and $22 price target. Following a pending divestiture, BioLife will emerge a “much cleaner story” as a pure-play on the cell and gene therapy space via leading cell processing tools and a storage platform with more recurring revenue, structurally higher growth, ample margin expansion opportunity and improved cash flow, the analyst tells investors in a research note.