Shares of BioSpecifics Technologies Corp. (NASDAQ:BSTC) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Brokerages have set a 1 year consensus price objective of $81.00 for the company and are expecting that the company will post $0.68 earnings per share for the current quarter, according to Zacks. Zacks has also assigned BioSpecifics Technologies an industry rank of 93 out of 256 based on the ratings given to related companies.
BSTC has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating and set a $81.00 price objective on shares of BioSpecifics Technologies in a research report on Thursday, November 8th. BidaskClub raised shares of BioSpecifics Technologies from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 24th. Finally, Zacks Investment Research raised shares of BioSpecifics Technologies from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Wednesday, November 14th.
Shares of BioSpecifics Technologies stock opened at $61.50 on Monday. The stock has a market capitalization of $443.09 million, a P/E ratio of 36.18 and a beta of 1.26. BioSpecifics Technologies has a fifty-two week low of $38.05 and a fifty-two week high of $66.21.
BioSpecifics Technologies (NASDAQ:BSTC) last posted its earnings results on Friday, November 9th. The biopharmaceutical company reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.14. The company had revenue of $8.17 million during the quarter, compared to analyst estimates of $7.19 million. BioSpecifics Technologies had a return on equity of 20.81% and a net margin of 54.96%. On average, equities analysts anticipate that BioSpecifics Technologies will post 2.5 EPS for the current year.
In other news, major shareholder Of Edwin H. Wegman Estate sold 10,000 shares of the company’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 21.40% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. increased its position in BioSpecifics Technologies by 166.1% during the second quarter. Russell Investments Group Ltd. now owns 25,917 shares of the biopharmaceutical company’s stock worth $1,162,000 after buying an additional 16,177 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in BioSpecifics Technologies by 8.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 46,426 shares of the biopharmaceutical company’s stock worth $2,083,000 after buying an additional 3,514 shares during the last quarter. GSA Capital Partners LLP increased its position in BioSpecifics Technologies by 89.7% during the second quarter. GSA Capital Partners LLP now owns 9,500 shares of the biopharmaceutical company’s stock worth $426,000 after buying an additional 4,491 shares during the last quarter. BlackRock Inc. increased its position in BioSpecifics Technologies by 25.4% during the second quarter. BlackRock Inc. now owns 404,524 shares of the biopharmaceutical company’s stock worth $18,146,000 after buying an additional 81,981 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in 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 buying an additional 1,612 shares during the last quarter. 57.30% of the stock is currently owned by institutional investors and hedge funds.
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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