Thomas Wegman Sells 23,592 Shares of BioSpecifics Technologies Corp. (BSTC) Stock

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BioSpecifics Technologies Corp. (NASDAQ:BSTC) insider Thomas Wegman sold 23,592 shares of BioSpecifics Technologies stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $51.30, for a total transaction of $1,210,269.60. Following the completion of the sale, the insider now directly owns 291,327 shares in the company, valued at approximately $14,945,075.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Thomas Wegman also recently made the following trade(s):

  • On Wednesday, August 15th, Thomas Wegman sold 23,908 shares of BioSpecifics Technologies stock. The shares were sold at an average price of $50.81, for a total transaction of $1,214,765.48.

Shares of NASDAQ:BSTC opened at $51.91 on Friday. The stock has a market capitalization of $350.52 million, a PE ratio of 30.54 and a beta of 1.45. BioSpecifics Technologies Corp. has a fifty-two week low of $38.05 and a fifty-two week high of $54.50.

BioSpecifics Technologies (NASDAQ:BSTC) last released its quarterly earnings data on Thursday, August 9th. The biopharmaceutical company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.10. The firm had revenue of $7.10 million for 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%. sell-side analysts expect that BioSpecifics Technologies Corp. will post 2.09 EPS for the current year.

Several brokerages have recently weighed in on BSTC. Zacks Investment Research raised shares of BioSpecifics Technologies from a “hold” rating to a “strong-buy” rating and set a $62.00 target price on the stock in a report on Tuesday, August 14th. BidaskClub raised shares of BioSpecifics Technologies from a “strong sell” rating to a “sell” rating in a report on Wednesday. HC Wainwright set a $65.00 target price on shares of BioSpecifics Technologies and gave the company a “buy” rating in a report on Friday, August 10th. Finally, ValuEngine raised shares of BioSpecifics Technologies from a “sell” rating to a “hold” rating in a report on Thursday, July 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. BioSpecifics Technologies has a consensus rating of “Buy” and an average price target of $64.00.

A number of hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its holdings in BioSpecifics Technologies by 5.0% during the second quarter. Renaissance Technologies LLC now owns 526,900 shares of the biopharmaceutical company’s stock worth $23,637,000 after buying an additional 24,900 shares in the last quarter. BlackRock Inc. boosted its holdings in BioSpecifics Technologies by 25.4% during the second quarter. BlackRock Inc. now owns 404,524 shares of the biopharmaceutical company’s stock worth $18,146,000 after buying an additional 81,981 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in BioSpecifics Technologies by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 271,262 shares of the biopharmaceutical company’s stock worth $12,168,000 after buying an additional 1,612 shares in the last quarter. Summit Trail Advisors LLC boosted its holdings in BioSpecifics Technologies by 3,339.8% during the first quarter. Summit Trail Advisors LLC now owns 233,802 shares of the biopharmaceutical company’s stock worth $234,000 after buying an additional 227,005 shares in the last quarter. Finally, Rice Hall James & Associates LLC boosted its holdings in BioSpecifics Technologies by 26.2% during the second quarter. Rice Hall James & Associates LLC now owns 204,183 shares of the biopharmaceutical company’s stock worth $9,160,000 after buying an additional 42,429 shares in the last quarter. 58.92% of the stock is currently owned by hedge funds and other institutional investors.

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.

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