BioSpecifics Technologies Corp. (NASDAQ:BSTC) has earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.
Analysts have set a twelve-month consensus price objective of $85.00 for the company and are forecasting that the company will post $0.72 earnings per share for the current quarter, according to Zacks. Zacks has also given BioSpecifics Technologies an industry rank of 70 out of 256 based on the ratings given to its competitors.
BSTC has been the subject of a number of research reports. Zacks Investment Research downgraded BioSpecifics Technologies from a “strong-buy” rating to a “sell” rating in a research report on Tuesday, May 21st. BidaskClub lowered BioSpecifics Technologies from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Finally, HC Wainwright set a $85.00 target price on BioSpecifics Technologies and gave the stock a “buy” rating in a research note on Tuesday, March 19th.
In other news, Director Jennifer M. Chao sold 3,313 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $60.74, for a total transaction of $201,231.62. Following the transaction, the director now owns 6,000 shares of the company’s stock, valued at approximately $364,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jennifer M. Chao sold 4,000 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $63.72, for a total value of $254,880.00. Following the transaction, the director now directly owns 3,313 shares in the company, valued at approximately $211,104.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,613 shares of company stock worth $1,614,094. Insiders own 21.40% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of BSTC. Metropolitan Life Insurance Co. NY boosted its position in BioSpecifics Technologies by 356.5% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 2,100 shares of the biopharmaceutical company’s stock valued at $127,000 after purchasing an additional 1,640 shares in the last quarter. Geode Capital Management LLC boosted its position in BioSpecifics Technologies by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 68,017 shares of the biopharmaceutical company’s stock valued at $4,121,000 after purchasing an additional 4,056 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in BioSpecifics Technologies during the fourth quarter valued at about $1,447,000. Vanguard Group Inc boosted its position in BioSpecifics Technologies by 1.3% during the third quarter. Vanguard Group Inc now owns 263,100 shares of the biopharmaceutical company’s stock valued at $15,389,000 after purchasing an additional 3,433 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in BioSpecifics Technologies by 50.1% during the fourth quarter. Legal & General Group Plc now owns 1,211 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 404 shares in the last quarter. 58.18% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:BSTC traded up $0.20 during mid-day trading on Friday, reaching $56.70. 18,009 shares of the company traded hands, compared to its average volume of 80,652. The company has a market cap of $411.89 million, a PE ratio of 20.77 and a beta of 1.30. BioSpecifics Technologies has a 52 week low of $40.58 and a 52 week high of $73.31.
BioSpecifics Technologies (NASDAQ:BSTC) last announced its quarterly earnings data on Friday, May 10th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.02). The company had revenue of $8.13 million for the quarter, compared to the consensus estimate of $8.10 million. BioSpecifics Technologies had a net margin of 59.99% and a return on equity of 21.08%. On average, research analysts predict that BioSpecifics Technologies will post 3 EPS for the current year.
About BioSpecifics Technologies
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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