BioSpecifics Technologies Corp. (NASDAQ:BSTC) major shareholder Of Edwin H. Wegman Estate sold 7,935 shares of the business’s stock in a transaction that occurred on Saturday, September 1st. The stock was sold at an average price of $37.53, for a total transaction of $297,800.55. Following the completion of the transaction, the insider now directly owns 1,005,128 shares of the company’s stock, valued at approximately $37,722,453.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of BSTC stock opened at $51.91 on Monday. The firm has a market cap 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 issued its quarterly earnings results 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. The business had revenue of $7.10 million for the quarter, compared to the consensus estimate of $7.10 million. BioSpecifics Technologies had a return on equity of 19.59% and a net margin of 49.78%. equities research analysts anticipate that BioSpecifics Technologies Corp. will post 2.09 EPS for the current year.
A number of equities analysts recently commented on the stock. HC Wainwright set a $65.00 price objective on shares of BioSpecifics Technologies and gave the stock a “buy” rating in a research note on Monday, April 30th. BidaskClub raised shares of BioSpecifics Technologies from a “strong sell” rating to a “sell” rating in a research note on Friday, June 22nd. ValuEngine downgraded shares of BioSpecifics Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research downgraded shares of BioSpecifics Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. 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 given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $64.00.
Several hedge funds have recently modified their holdings of the company. California Public Employees Retirement System increased its position in shares of BioSpecifics Technologies by 8.2% during the second quarter. California Public Employees Retirement System now owns 18,153 shares of the biopharmaceutical company’s stock worth $814,000 after purchasing an additional 1,382 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of 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 purchasing an additional 1,612 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of BioSpecifics Technologies by 1.7% during the second quarter. Acadian Asset Management LLC now owns 110,934 shares of the biopharmaceutical company’s stock worth $4,976,000 after purchasing an additional 1,806 shares in the last quarter. MetLife Investment Advisors LLC acquired a new position in shares of BioSpecifics Technologies during the fourth quarter worth $132,000. Finally, Bank of America Corp DE increased its position in shares of BioSpecifics Technologies by 466.7% during the second quarter. Bank of America Corp DE now owns 4,086 shares of the biopharmaceutical company’s stock worth $183,000 after purchasing an additional 3,365 shares in the last quarter. 58.92% of the stock is currently owned by institutional investors and hedge funds.
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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