Wells Fargo & Company MN raised its holdings in BioSpecifics Technologies Corp. (NASDAQ:BSTC) by 29.3% during the second quarter, HoldingsChannel.com reports. The fund owned 91,817 shares of the biopharmaceutical company’s stock after purchasing an additional 20,830 shares during the period. Wells Fargo & Company MN’s holdings in BioSpecifics Technologies were worth $5,483,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in BSTC. Roubaix Capital LLC bought a new position in BioSpecifics Technologies in the second quarter valued at about $2,695,000. Rice Hall James & Associates LLC grew its position in BioSpecifics Technologies by 12.2% in the second quarter. Rice Hall James & Associates LLC now owns 354,455 shares of the biopharmaceutical company’s stock valued at $21,165,000 after acquiring an additional 38,483 shares during the last quarter. Clark Capital Management Group Inc. bought a new position in BioSpecifics Technologies in the first quarter valued at about $2,311,000. Wedge Capital Management L L P NC bought a new position in BioSpecifics Technologies in the second quarter valued at about $1,634,000. Finally, Dupont Capital Management Corp grew its position in BioSpecifics Technologies by 135.6% in the second quarter. Dupont Capital Management Corp now owns 23,488 shares of the biopharmaceutical company’s stock valued at $1,402,000 after acquiring an additional 13,520 shares during the last quarter. Hedge funds and other institutional investors own 59.16% of the company’s stock.
A number of research analysts have issued reports on BSTC shares. ValuEngine cut BioSpecifics Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. BidaskClub upgraded BioSpecifics Technologies from a “sell” rating to a “hold” rating in a research report on Saturday. HC Wainwright reiterated a “buy” rating and issued a $90.00 target price (up previously from $85.00) on shares of BioSpecifics Technologies in a research report on Monday, August 12th. Finally, Zacks Investment Research cut BioSpecifics Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th.
BioSpecifics Technologies (NASDAQ:BSTC) last released its quarterly earnings results on Friday, August 9th. The biopharmaceutical company reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.15. The company had revenue of $8.85 million for the quarter, compared to analysts’ expectations of $8.98 million. BioSpecifics Technologies had a return on equity of 21.97% and a net margin of 63.06%. Research analysts forecast that BioSpecifics Technologies Corp. will post 3.17 earnings per share for the current fiscal year.
In other news, Director Toby Wegman sold 1,100 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $55.23, for a total transaction of $60,753.00. Following the sale, the director now directly owns 1,890 shares in the company, valued at $104,384.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 16.39% of the company’s stock.
BioSpecifics Technologies Profile
BioSpecifics Technologies Corp., a biopharmaceutical company, engages in the development of an injectable collagenase clostridium histolyticum for various 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 brands.
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