BioSpecifics Technologies Corp. (NASDAQ:BSTC) major shareholder Of Edwin H. Wegman Estate sold 1,607 shares of the stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $37.61, for a total transaction of $60,439.27. Following the sale, the insider now owns 1,005,128 shares of the company’s stock, valued at approximately $37,802,864.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
NASDAQ:BSTC traded up $0.14 during mid-day trading on Friday, reaching $51.91. The stock had a trading volume of 39,368 shares, compared to its average volume of 25,670. The company has a market cap of $350.52 million, a P/E ratio of 30.54 and a beta of 1.45. BioSpecifics Technologies Corp. has a twelve month low of $38.05 and a twelve month high of $54.50.
BioSpecifics Technologies (NASDAQ:BSTC) last announced its quarterly earnings data 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. The firm had revenue of $7.10 million during the quarter, compared to the consensus estimate of $7.10 million. BioSpecifics Technologies had a net margin of 49.78% and a return on equity of 19.59%. analysts predict that BioSpecifics Technologies Corp. will post 2.09 earnings per share for the current fiscal year.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of BioSpecifics Technologies from a “hold” rating to a “strong-buy” rating and set a $62.00 target price for the company in a research note on Tuesday, August 14th. BidaskClub upgraded shares of BioSpecifics Technologies from a “strong sell” rating to a “sell” rating in a research note on Wednesday. HC Wainwright set a $65.00 target price on shares of BioSpecifics Technologies and gave the stock a “buy” rating in a research note on Friday, August 10th. Finally, ValuEngine upgraded shares of BioSpecifics Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $64.00.
Large investors have recently made changes to their positions in the stock. MetLife Investment Advisors LLC acquired a new stake in BioSpecifics Technologies in the fourth quarter valued at about $132,000. Bank of America Corp DE lifted its position in 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 valued at $183,000 after purchasing an additional 3,365 shares during the period. Summit Trail Advisors LLC lifted its position in BioSpecifics Technologies by 3,339.8% in the first quarter. Summit Trail Advisors LLC now owns 233,802 shares of the biopharmaceutical company’s stock valued at $234,000 after purchasing an additional 227,005 shares during the period. Citadel Advisors LLC acquired a new stake in BioSpecifics Technologies in the second quarter valued at about $264,000. Finally, GSA Capital Partners LLP lifted its position in BioSpecifics Technologies by 89.7% in the second quarter. GSA Capital Partners LLP now owns 9,500 shares of the biopharmaceutical company’s stock valued at $426,000 after purchasing an additional 4,491 shares during the period. Hedge funds and other institutional investors own 58.92% 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.
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.