BioSpecifics Technologies Corp. (BSTC) Receives Average Rating of “Strong Buy” from Analysts

BioSpecifics Technologies Corp. (NASDAQ:BSTC) has been assigned an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Analysts have set a 1 year consensus target price of $65.00 for the company and are expecting that the company will post $0.55 earnings per share for the current quarter, according to Zacks. Zacks has also assigned BioSpecifics Technologies an industry rank of 90 out of 255 based on the ratings given to related companies.

A number of brokerages recently issued reports on BSTC. BidaskClub downgraded BioSpecifics Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, September 22nd. Zacks Investment Research downgraded BioSpecifics Technologies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 10th. ValuEngine upgraded BioSpecifics Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th. Finally, HC Wainwright set a $65.00 price target on BioSpecifics Technologies and gave the stock a “buy” rating in a research report on Friday, August 10th.



In related news, major shareholder Of Edwin H. Wegman Estate sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $48.08, for a total value of $480,800.00. Following the completion of the sale, the insider now directly owns 1,005,128 shares in the company, valued at $48,326,554.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mark N. Wegman sold 8,500 shares of the firm’s stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $52.63, for a total value of $447,355.00. Following the completion of the sale, the director now owns 76,470 shares of the company’s stock, valued at $4,024,616.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 177,952 shares of company stock valued at $8,128,384. 21.40% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in BSTC. Bank of America Corp DE lifted its position in shares of BioSpecifics Technologies by 466.7% during the second quarter. Bank of America Corp DE now owns 4,086 shares of the biopharmaceutical company’s stock worth $183,000 after purchasing an additional 3,365 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of BioSpecifics Technologies during the second quarter worth $264,000. GSA Capital Partners LLP lifted its position in shares of BioSpecifics Technologies by 89.7% during the second quarter. GSA Capital Partners LLP now owns 9,500 shares of the biopharmaceutical company’s stock worth $426,000 after purchasing an additional 4,491 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of BioSpecifics Technologies by 639.6% during the first quarter. Russell Investments Group Ltd. now owns 9,740 shares of the biopharmaceutical company’s stock worth $431,000 after purchasing an additional 8,423 shares during the last quarter. Finally, Adams Diversified Equity Fund Inc. bought a new stake in shares of BioSpecifics Technologies during the third quarter worth $567,000. Institutional investors and hedge funds own 58.02% of the company’s stock.

BSTC stock opened at $61.83 on Tuesday. The firm has a market capitalization of $458.56 million, a P/E ratio of 36.37 and a beta of 1.62. BioSpecifics Technologies has a fifty-two week low of $38.05 and a fifty-two week high of $65.99.

BioSpecifics Technologies (NASDAQ:BSTC) last issued its quarterly earnings results on Thursday, August 9th. The biopharmaceutical company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.10. The company had revenue of $7.10 million during the quarter, compared to the consensus estimate of $7.10 million. BioSpecifics Technologies had a return on equity of 19.59% and a net margin of 49.78%. As a group, research analysts predict that BioSpecifics Technologies will post 2.28 EPS for the current year.

About BioSpecifics Technologies

BioSpecifics Technologies Corp., a biopharmaceutical company, engages in the development of an injectable collagenase clostridium histolyticum for multiple indications in the United States and internationally. The company offers injectable collagenase for the treatment of Dupuytren's contracture and Peyronie's disease under the XIAFLEX or Xiapex brand names.

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