BioSpecifics Technologies (NASDAQ:BSTC) Stock Rating Upgraded by BidaskClub

BioSpecifics Technologies (NASDAQ:BSTC) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Saturday, BidAskClub reports.

A number of other brokerages also recently weighed in on BSTC. Zacks Investment Research downgraded BioSpecifics Technologies from a “strong-buy” rating to a “strong sell” rating in a report on Friday, August 14th. HC Wainwright lifted their price objective on shares of BioSpecifics Technologies from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th.

Shares of NASDAQ BSTC opened at $56.79 on Friday. The company’s 50 day moving average price is $62.16 and its 200-day moving average price is $59.06. BioSpecifics Technologies has a 52-week low of $42.00 and a 52-week high of $69.73. The company has a market capitalization of $417.12 million, a P/E ratio of 22.90 and a beta of 0.69.

BioSpecifics Technologies (NASDAQ:BSTC) last issued its quarterly earnings results on Monday, August 10th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.16. The firm had revenue of $3.90 million during the quarter, compared to the consensus estimate of $2.06 million. BioSpecifics Technologies had a return on equity of 16.06% and a net margin of 52.45%. On average, sell-side analysts expect that BioSpecifics Technologies will post 1.43 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of the stock. Bridgeway Capital Management Inc. bought a new position in BioSpecifics Technologies in the second quarter worth approximately $380,000. Charles Schwab Investment Management Inc. raised its position in shares of BioSpecifics Technologies by 5.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 30,704 shares of the biopharmaceutical company’s stock worth $1,882,000 after purchasing an additional 1,586 shares during the period. Private Advisor Group LLC bought a new position in shares of BioSpecifics Technologies in the 2nd quarter worth $54,000. Captrust Financial Advisors acquired a new stake in BioSpecifics Technologies in the 2nd quarter valued at $58,000. Finally, Bank of America Corp DE increased its stake in BioSpecifics Technologies by 10.2% during the 2nd quarter. Bank of America Corp DE now owns 3,261 shares of the biopharmaceutical company’s stock valued at $200,000 after purchasing an additional 302 shares in the last quarter. 65.49% of the stock is currently owned by institutional investors and hedge funds.

BioSpecifics Technologies Company 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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