BioSpecifics Technologies (NASDAQ:BSTC) received a $65.00 price target from HC Wainwright in a research note issued on Friday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 35.28% from the company’s current price.
A number of other analysts have also recently weighed in on the company. BidaskClub cut BioSpecifics Technologies from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 4th. Zacks Investment Research cut BioSpecifics Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. Finally, ValuEngine raised BioSpecifics Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $59.00.
Shares of BioSpecifics Technologies traded up $0.55, reaching $48.05, during trading on Friday, Marketbeat reports. The company’s stock had a trading volume of 17,450 shares, compared to its average volume of 15,421. The stock has a market capitalization of $341.96 million, a price-to-earnings ratio of 28.26 and a beta of 1.45. BioSpecifics Technologies has a 1-year low of $38.05 and a 1-year high of $49.64.
BioSpecifics Technologies (NASDAQ:BSTC) last posted its quarterly earnings data on Thursday, August 9th. The biopharmaceutical company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.10. The firm had revenue of $7.10 million during the quarter, compared to analysts’ expectations of $7.10 million. BioSpecifics Technologies had a return on equity of 20.66% and a net margin of 49.78%. equities research analysts forecast that BioSpecifics Technologies will post 2.09 EPS for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of BSTC. Summit Trail Advisors LLC lifted its position in BioSpecifics Technologies by 3,339.8% during the 1st quarter. Summit Trail Advisors LLC now owns 233,802 shares of the biopharmaceutical company’s stock worth $234,000 after acquiring an additional 227,005 shares during the period. BlackRock Inc. lifted its position in BioSpecifics Technologies by 25.4% during the 2nd quarter. BlackRock Inc. now owns 404,524 shares of the biopharmaceutical company’s stock worth $18,146,000 after acquiring an additional 81,981 shares during the period. Thomson Horstmann & Bryant Inc. acquired a new stake in BioSpecifics Technologies during the 1st quarter worth about $2,056,000. Rice Hall James & Associates LLC lifted its position in BioSpecifics Technologies by 26.2% during the 2nd quarter. Rice Hall James & Associates LLC now owns 204,183 shares of the biopharmaceutical company’s stock worth $9,160,000 after acquiring an additional 42,429 shares during the period. Finally, Matarin Capital Management LLC acquired a new stake in BioSpecifics Technologies during the 1st quarter worth about $1,498,000. 58.11% of the stock is owned by institutional investors.
About BioSpecifics Technologies
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.
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