BioSpecifics Technologies Corp. (NASDAQ:BSTC) Director Toby Wegman sold 2,500 shares of the company’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $51.89, for a total value of $129,725.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
BSTC opened at $51.91 on Monday. The firm 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 12 month low of $38.05 and a 12 month high of $54.50.
BioSpecifics Technologies (NASDAQ:BSTC) last released its quarterly earnings results on Thursday, August 9th. The biopharmaceutical company reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.10. The firm had revenue of $7.10 million during the quarter, compared to analyst estimates of $7.10 million. BioSpecifics Technologies had a return on equity of 19.59% and a net margin of 49.78%. research analysts anticipate that BioSpecifics Technologies Corp. will post 2.09 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BSTC. MetLife Investment Advisors LLC acquired a new position in BioSpecifics Technologies during the 4th quarter valued at about $132,000. Bank of America Corp DE increased its position in 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 valued at $183,000 after buying an additional 3,365 shares in the last quarter. Summit Trail Advisors LLC increased 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 valued at $234,000 after buying an additional 227,005 shares in the last quarter. Citadel Advisors LLC acquired a new position in BioSpecifics Technologies during the 2nd quarter valued at about $264,000. Finally, GSA Capital Partners LLP increased its position in BioSpecifics Technologies by 89.7% during the 2nd quarter. GSA Capital Partners LLP now owns 9,500 shares of the biopharmaceutical company’s stock valued at $426,000 after buying an additional 4,491 shares in the last quarter. 58.92% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on the company. BidaskClub cut BioSpecifics Technologies from a “sell” rating to a “strong sell” rating in a report on Saturday, August 4th. HC Wainwright reiterated 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 cut BioSpecifics Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, June 12th. Finally, ValuEngine upgraded 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 issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $64.00.
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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