BioSpecifics Technologies Corp. (NASDAQ:BSTC) major shareholder Of Edwin H. Wegman Estate sold 57,705 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $38.22, for a total transaction of $2,205,485.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
NASDAQ:BSTC opened at $51.91 on Friday. The stock has a market capitalization of $350.52 million, a price-to-earnings ratio of 30.54 and a beta of 1.45. BioSpecifics Technologies Corp. has a 12-month low of $38.05 and a 12-month high of $54.50.
BioSpecifics Technologies (NASDAQ:BSTC) last released its earnings results on Thursday, August 9th. The biopharmaceutical company reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.10. The company had revenue of $7.10 million for the quarter, compared to analyst estimates of $7.10 million. BioSpecifics Technologies had a net margin of 49.78% and a return on equity of 19.59%. equities research analysts predict that BioSpecifics Technologies Corp. will post 2.09 earnings per share for the current year.
A number of research analysts have issued reports on the stock. BidaskClub lowered shares of BioSpecifics Technologies from a “sell” rating to a “strong sell” rating in a report on Saturday, August 4th. HC Wainwright restated a “buy” rating and issued a $65.00 target price on shares of BioSpecifics Technologies in a report on Thursday, July 5th. Zacks Investment Research lowered shares of BioSpecifics Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, June 12th. Finally, ValuEngine upgraded shares of BioSpecifics Technologies from a “sell” rating to a “hold” rating in a report on Thursday, July 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $64.00.
A number of large investors have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC purchased a new position in shares of BioSpecifics Technologies during the 4th quarter worth about $132,000. Bank of America Corp DE lifted its holdings in shares of BioSpecifics Technologies by 466.7% during the 2nd quarter. Bank of America Corp DE now owns 4,086 shares of the biopharmaceutical company’s stock worth $183,000 after acquiring an additional 3,365 shares during the period. Summit Trail Advisors LLC lifted its holdings in shares of 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. Citadel Advisors LLC purchased a new position in shares of BioSpecifics Technologies during the 2nd quarter worth about $264,000. Finally, GSA Capital Partners LLP lifted its holdings in shares of BioSpecifics Technologies by 89.7% during the 2nd quarter. GSA Capital Partners LLP now owns 9,500 shares of the biopharmaceutical company’s stock worth $426,000 after acquiring an additional 4,491 shares during the period. Institutional investors own 58.92% of the company’s stock.
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.
Featured Story: What is the NASDAQ Stock Market?
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.