Zacks Investment Research upgraded shares of BioSpecifics Technologies (NASDAQ:BSTC) from a hold rating to a buy rating in a research report report published on Friday. They currently have $47.00 price target on the biopharmaceutical company’s stock.
According to Zacks, “BIOSPECIFICS TECHNOLOGIES is engaged in the business of producing and licensing, for sale by other, a U.S. Food and Drug Administration (FDA) approved enzyme derived from collagenase, named Collagenase ABC, and researching, developing and clinically testing additional products derived therefrom for potential use as pharmaceuticals. “
Separately, HC Wainwright reiterated a buy rating on shares of BioSpecifics Technologies in a report on Tuesday, December 26th.
BioSpecifics Technologies (NASDAQ BSTC) traded down $0.08 on Friday, hitting $41.74. 48,115 shares of the company were exchanged, compared to its average volume of 29,235. BioSpecifics Technologies has a 52 week low of $38.05 and a 52 week high of $58.79. The stock has a market cap of $301.07, a PE ratio of 26.93 and a beta of 1.55.
Hedge funds and other institutional investors have recently made changes to their positions in the business. MetLife Investment Advisors LLC bought a new stake in BioSpecifics Technologies in the 4th quarter valued at $132,000. Jefferies Group LLC bought a new stake in BioSpecifics Technologies in the 4th quarter valued at $206,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in BioSpecifics Technologies in the 3rd quarter valued at $223,000. The Manufacturers Life Insurance Company increased its holdings in BioSpecifics Technologies by 9.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,920 shares of the biopharmaceutical company’s stock valued at $244,000 after acquiring an additional 410 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in BioSpecifics Technologies by 99.0% in the 4th quarter. SG Americas Securities LLC now owns 6,911 shares of the biopharmaceutical company’s stock valued at $299,000 after acquiring an additional 3,438 shares during the last quarter. Institutional investors own 56.57% of the company’s stock.
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BioSpecifics Technologies Company Profile
BioSpecifics Technologies Corp. is a biopharmaceutical company involved in the development of an injectable collagenase clostridium histolyticum for multiple indications. The Company has a development and license agreement with Endo Global Ventures, a Bermuda unlimited liability company (Endo Global Ventures), an affiliate of Endo International plc (Endo), for injectable collagenase for marketed indications and indications in development.
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