Metropolitan Life Insurance Co. NY raised its holdings in BioSpecifics Technologies Corp. (NASDAQ:BSTC) by 356.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,100 shares of the biopharmaceutical company’s stock after purchasing an additional 1,640 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in BioSpecifics Technologies were worth $127,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of BSTC. Great West Life Assurance Co. Can purchased a new stake in BioSpecifics Technologies in the fourth quarter valued at $54,000. MetLife Investment Advisors LLC purchased a new stake in BioSpecifics Technologies in the third quarter valued at $273,000. Alliancebernstein L.P. purchased a new stake in BioSpecifics Technologies in the third quarter valued at $281,000. Navellier & Associates Inc purchased a new stake in BioSpecifics Technologies in the fourth quarter valued at $285,000. Finally, Cavalier Investments LLC purchased a new stake in BioSpecifics Technologies in the fourth quarter valued at $285,000. Institutional investors own 59.59% of the company’s stock.
BSTC stock opened at $63.19 on Friday. The firm has a market capitalization of $459.90 million, a P/E ratio of 23.76 and a beta of 1.27. BioSpecifics Technologies Corp. has a 12-month low of $40.54 and a 12-month high of $73.31.
BioSpecifics Technologies (NASDAQ:BSTC) last posted its quarterly earnings data on Tuesday, April 2nd. The biopharmaceutical company reported $0.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.02. The firm had revenue of $9.85 million for the quarter. BioSpecifics Technologies had a return on equity of 21.79% and a net margin of 60.57%. As a group, research analysts forecast that BioSpecifics Technologies Corp. will post 3.01 earnings per share for the current fiscal year.
Several equities research analysts recently issued reports on the company. Zacks Investment Research downgraded BioSpecifics Technologies from a “buy” rating to a “hold” rating in a report on Monday, February 4th. HC Wainwright set a $85.00 price objective on BioSpecifics Technologies and gave the company a “buy” rating in a report on Tuesday, March 19th. Finally, BidaskClub downgraded BioSpecifics Technologies from a “buy” rating to a “hold” rating in a report on Friday, March 29th.
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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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