HC Wainwright set a $72.00 price objective on BioSpecifics Technologies (NASDAQ:BSTC) in a research report report published on Thursday, The Fly reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
BSTC has been the subject of a number of other reports. ValuEngine raised shares of BioSpecifics Technologies from a sell rating to a hold rating in a report on Thursday, July 5th. BidaskClub raised shares of BioSpecifics Technologies from a hold rating to a buy rating in a report on Thursday, September 13th. Finally, Zacks Investment Research cut shares of BioSpecifics Technologies from a buy rating to a hold rating in a report on Tuesday, July 10th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $66.33.
Shares of BSTC stock opened at $61.48 on Thursday. BioSpecifics Technologies has a 12 month low of $38.05 and a 12 month high of $65.99. The company has a market cap of $448.49 million, a price-to-earnings ratio of 36.16 and a beta of 1.48.
BioSpecifics Technologies (NASDAQ:BSTC) last announced its earnings results on Thursday, August 9th. The biopharmaceutical company reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.10. BioSpecifics Technologies had a net margin of 49.78% and a return on equity of 19.59%. The business had revenue of $7.10 million during the quarter, compared to analysts’ expectations of $7.10 million. As a group, equities research analysts predict that BioSpecifics Technologies will post 2.28 EPS for the current year.
In other BioSpecifics Technologies news, Director Paul Gitman sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $57.64, for a total value of $57,640.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $1,152,800. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Thomas Wegman sold 23,908 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $50.81, for a total transaction of $1,214,765.48. Following the completion of the transaction, the president now owns 320,340 shares of the company’s stock, valued at $16,276,475.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 177,952 shares of company stock valued at $8,128,384. 21.40% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of BSTC. Meeder Asset Management Inc. boosted its position in shares of BioSpecifics Technologies by 82.0% in the third quarter. Meeder Asset Management Inc. now owns 2,344 shares of the biopharmaceutical company’s stock worth $137,000 after purchasing an additional 1,056 shares during the period. Bank of America Corp DE boosted its position in shares of BioSpecifics Technologies by 466.7% in 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 period. Citadel Advisors LLC bought a new position in shares of BioSpecifics Technologies in the second quarter worth approximately $264,000. GSA Capital Partners LLP boosted its position in shares of BioSpecifics Technologies by 89.7% in 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 period. Finally, Russell Investments Group Ltd. boosted its position in shares of BioSpecifics Technologies by 639.6% in 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 period. Institutional investors and hedge funds own 57.75% of the company’s stock.
BioSpecifics Technologies Company Profile
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.
Featured Story: Market Capitalization – What it Means for Investors
Receive News & Ratings for BioSpecifics Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioSpecifics Technologies and related companies with MarketBeat.com's FREE daily email newsletter.