BioSpecifics Technologies (NASDAQ:BSTC)‘s stock had its “buy” rating reissued by HC Wainwright in a research note issued to investors on Thursday, The Fly reports. They currently have a $81.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective would indicate a potential upside of 39.75% from the stock’s previous close.
Several other brokerages have also issued reports on BSTC. Zacks Investment Research raised shares of BioSpecifics Technologies from a “hold” rating to a “strong-buy” rating and set a $62.00 price target for the company in a report on Tuesday, August 14th. BidaskClub raised shares of BioSpecifics Technologies from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 24th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $69.33.
BSTC opened at $57.96 on Thursday. BioSpecifics Technologies has a 52 week low of $38.05 and a 52 week high of $66.21. The firm has a market cap of $463.15 million, a price-to-earnings ratio of 34.09 and a beta of 1.48.
BioSpecifics Technologies (NASDAQ:BSTC) last released its earnings results on Friday, November 9th. The biopharmaceutical company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.14. BioSpecifics Technologies had a net margin of 49.78% and a return on equity of 19.59%. Equities analysts forecast that BioSpecifics Technologies will post 2.28 earnings per share for the current fiscal year.
In related news, Director Mark N. Wegman sold 8,500 shares of the business’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $52.63, for a total value of $447,355.00. Following the sale, the director now directly owns 76,470 shares of the company’s stock, valued at approximately $4,024,616.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Thomas Wegman sold 23,908 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $50.81, for a total transaction of $1,214,765.48. Following the completion of the sale, the president now directly owns 320,340 shares in the company, valued at $16,276,475.40. The disclosure for this sale can be found here. Insiders sold a total of 177,952 shares of company stock valued at $8,128,384 in the last three months. 21.40% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of BSTC. BlackRock Inc. lifted its position in BioSpecifics Technologies by 20.4% in the 3rd quarter. BlackRock Inc. now owns 487,149 shares of the biopharmaceutical company’s stock valued at $28,493,000 after acquiring an additional 82,625 shares in the last quarter. Cadence Capital Management LLC bought a new stake in BioSpecifics Technologies in the 3rd quarter valued at $2,887,000. Rice Hall James & Associates LLC lifted its position in BioSpecifics Technologies by 26.2% in 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 acquiring an additional 42,429 shares in the last quarter. Acadian Asset Management LLC lifted its position in BioSpecifics Technologies by 23.1% in the 3rd quarter. Acadian Asset Management LLC now owns 136,568 shares of the biopharmaceutical company’s stock valued at $7,987,000 after acquiring an additional 25,634 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in BioSpecifics Technologies by 5.0% in the 2nd quarter. Renaissance Technologies LLC now owns 526,900 shares of the biopharmaceutical company’s stock valued at $23,637,000 after acquiring an additional 24,900 shares in the last quarter. 57.75% 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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