BioSpecifics Technologies (NASDAQ:BSTC) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of BioSpecifics Technologies (NASDAQ:BSTC) in a research report released on Monday morning, The Fly reports. HC Wainwright currently has a $90.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $85.00.

Other analysts also recently issued research reports about the company. BidaskClub upgraded BioSpecifics Technologies from a sell rating to a hold rating in a research report on Tuesday, June 11th. ValuEngine downgraded BioSpecifics Technologies from a hold rating to a sell rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research upgraded BioSpecifics Technologies from a sell rating to a hold rating in a research report on Monday, July 15th.

Shares of BSTC stock opened at $57.37 on Monday. The stock has a 50 day moving average of $59.72 and a two-hundred day moving average of $63.64. BioSpecifics Technologies has a 12 month low of $48.67 and a 12 month high of $73.31. The company has a market capitalization of $436.08 million, a P/E ratio of 19.83 and a beta of 1.21.

In other BioSpecifics Technologies news, Director Jennifer M. Chao sold 5,511 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $57.26, for a total value of $315,559.86. Following the completion of the sale, the director now owns 3,400 shares in the company, valued at approximately $194,684. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jennifer M. Chao sold 459 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $58.55, for a total value of $26,874.45. Following the transaction, the director now owns 30 shares of the company’s stock, valued at approximately $1,756.50. The disclosure for this sale can be found here. Insiders sold a total of 28,583 shares of company stock valued at $1,725,298 in the last quarter. Corporate insiders own 16.39% of the company’s stock.

Several institutional investors have recently bought and sold shares of BSTC. Dimensional Fund Advisors LP raised its holdings in BioSpecifics Technologies by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 289,243 shares of the biopharmaceutical company’s stock valued at $17,528,000 after acquiring an additional 8,132 shares in the last quarter. Geode Capital Management LLC raised its holdings in BioSpecifics Technologies by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 68,017 shares of the biopharmaceutical company’s stock valued at $4,121,000 after acquiring an additional 4,056 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in BioSpecifics Technologies by 356.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 2,100 shares of the biopharmaceutical company’s stock valued at $127,000 after acquiring an additional 1,640 shares in the last quarter. Legal & General Group Plc raised its holdings in BioSpecifics Technologies by 50.1% in the fourth quarter. Legal & General Group Plc now owns 1,211 shares of the biopharmaceutical company’s stock valued at $74,000 after acquiring an additional 404 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in BioSpecifics Technologies in the fourth quarter valued at approximately $1,272,000. Institutional investors and hedge funds own 60.12% 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 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.

Recommended Story: What is channel trading?

The Fly

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.