Bank of New York Mellon Corp reduced its stake in BioSpecifics Technologies Corp. (NASDAQ:BSTC) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,376 shares of the biopharmaceutical company’s stock after selling 875 shares during the quarter. Bank of New York Mellon Corp owned about 0.95% of BioSpecifics Technologies worth $4,205,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Janus Henderson Group PLC purchased a new stake in shares of BioSpecifics Technologies in the third quarter valued at $225,000. MetLife Investment Advisors LLC purchased a new stake in shares of BioSpecifics Technologies in the third quarter valued at $273,000. Alliancebernstein L.P. purchased a new stake in shares of BioSpecifics Technologies in the third quarter valued at $281,000. Cavalier Investments LLC purchased a new stake in shares of BioSpecifics Technologies in the fourth quarter valued at $285,000. Finally, Navellier & Associates Inc purchased a new stake in shares of BioSpecifics Technologies in the fourth quarter valued at $285,000. Institutional investors and hedge funds own 59.59% of the company’s stock.
Several brokerages have recently issued reports on BSTC. Zacks Investment Research upgraded BioSpecifics Technologies from a “hold” rating to a “strong-buy” rating and set a $77.00 price objective on the stock in a research report on Wednesday, March 20th. BidaskClub downgraded BioSpecifics Technologies from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Finally, HC Wainwright set a $85.00 target price on BioSpecifics Technologies and gave the stock a “buy” rating in a research report on Tuesday, March 19th.
NASDAQ BSTC opened at $66.50 on Wednesday. BioSpecifics Technologies Corp. has a twelve month low of $40.54 and a twelve month high of $73.31. The stock has a market cap of $492.82 million, a P/E ratio of 24.29 and a beta of 1.27.
BioSpecifics Technologies (NASDAQ:BSTC) last released its earnings results on Tuesday, April 2nd. The biopharmaceutical company reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.02. BioSpecifics Technologies had a return on equity of 21.79% and a net margin of 60.57%. The firm had revenue of $9.85 million for the quarter. As a group, analysts predict that BioSpecifics Technologies Corp. will post 3.01 EPS for the current fiscal year.
BioSpecifics Technologies Company Profile
BioSpecifics Technologies Corp., a biopharmaceutical company, engages in the development of an injectable collagenase clostridium histolyticum for various 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 brands.
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