Shares of BioSpecifics Technologies Corp. (NASDAQ:BSTC) have been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.
Brokerages have set a 12-month consensus price objective of $65.00 for the company and are forecasting that the company will post $0.55 earnings per share for the current quarter, according to Zacks. Zacks has also given BioSpecifics Technologies an industry rank of 115 out of 255 based on the ratings given to related companies.
A number of equities analysts recently issued reports on the company. Zacks Investment Research raised BioSpecifics Technologies from a “hold” rating to a “strong-buy” rating and set a $62.00 price objective for the company in a report on Tuesday, August 14th. HC Wainwright set a $65.00 price objective on BioSpecifics Technologies and gave the stock a “buy” rating in a report on Friday, August 10th. BidaskClub raised BioSpecifics Technologies from a “strong sell” rating to a “sell” rating in a report on Friday, June 22nd. Finally, ValuEngine raised BioSpecifics Technologies from a “sell” rating to a “hold” rating in a report on Thursday, July 5th.
Shares of BSTC stock opened at $51.91 on Thursday. BioSpecifics Technologies has a 12-month low of $38.05 and a 12-month high of $54.50. The company has a market capitalization of $350.52 million, a P/E ratio of 30.54 and a beta of 1.45.
BioSpecifics Technologies (NASDAQ:BSTC) last issued its quarterly earnings data on Thursday, August 9th. The biopharmaceutical company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.10. BioSpecifics Technologies had a return on equity of 19.59% and a net margin of 49.78%. The business had revenue of $7.10 million during the quarter, compared to analyst estimates of $7.10 million. analysts anticipate that BioSpecifics Technologies will post 2.09 earnings per share for the current fiscal year.
In other BioSpecifics Technologies news, President Thomas Wegman sold 23,908 shares of the stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $50.81, for a total transaction of $1,214,765.48. Following the completion of the transaction, the president now directly owns 320,340 shares of the company’s stock, valued at approximately $16,276,475.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Of Edwin H. Wegman Estate sold 10,000 shares of the stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $48.08, for a total value of $480,800.00. Following the transaction, the insider now directly owns 1,005,128 shares of the company’s stock, valued at $48,326,554.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 133,952 shares of company stock valued at $5,862,404. 21.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of BSTC. Summit Trail Advisors LLC boosted its stake 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 valued at $234,000 after purchasing an additional 227,005 shares in the last quarter. BlackRock Inc. boosted its stake in BioSpecifics Technologies by 25.4% during the 2nd quarter. BlackRock Inc. now owns 404,524 shares of the biopharmaceutical company’s stock valued at $18,146,000 after purchasing an additional 81,981 shares in the last quarter. Thomson Horstmann & Bryant Inc. bought a new position in BioSpecifics Technologies during the 1st quarter valued at $2,056,000. Rice Hall James & Associates LLC boosted its stake 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 valued at $9,160,000 after purchasing an additional 42,429 shares in the last quarter. Finally, Matarin Capital Management LLC bought a new position in BioSpecifics Technologies during the 1st quarter valued at $1,498,000. 58.92% of the stock is owned by hedge funds and other 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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