Craig-Hallum starts BioLife Solutions at Buy with headwinds starting to subside

As previously reported, Craig-Hallum initiated coverage of BioLife Solutions with a Buy rating and $29 price target. BioLife Solutions is “uniquely positioned” to capitalize on the rapid growth in the cell and gene therapy industry with their “picks and shovels portfolio” of products and services, the analyst tells investors. BioLife’s business model proved to be highly susceptible to disruptions related to COVID, but the near-term headwinds presented from the small pharma/biotech funding environment are starting to subside and BioLife continues to win new business, the analyst added.