BioSpecifics Technologies Corp. (NASDAQ:BSTC) has earned an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.
Analysts have set a 12 month consensus price target of $81.00 for the company and are anticipating that the company will post $0.68 earnings per share for the current quarter, according to Zacks. Zacks has also given BioSpecifics Technologies an industry rank of 81 out of 255 based on the ratings given to related companies.
Several research analysts have recently issued reports on BSTC shares. Zacks Investment Research raised BioSpecifics Technologies from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Thursday, January 17th. BidaskClub raised BioSpecifics Technologies from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 19th. Finally, HC Wainwright set a $72.00 target price on BioSpecifics Technologies and gave the company a “buy” rating in a research report on Thursday, November 1st.
BSTC stock traded down $1.40 during midday trading on Wednesday, reaching $70.10. 33,500 shares of the company were exchanged, compared to its average volume of 47,735. The stock has a market cap of $521.26 million, a price-to-earnings ratio of 41.24 and a beta of 1.27. BioSpecifics Technologies has a one year low of $38.05 and a one year high of $73.31.
In related 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 stock was sold at an average price of $48.08, for a total transaction of $480,800.00. Following the completion of the sale, the insider now owns 1,005,128 shares in the company, valued at $48,326,554.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 21.40% of the company’s stock.
Large investors have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in BioSpecifics Technologies by 20.4% during the 3rd quarter. BlackRock Inc. now owns 487,149 shares of the biopharmaceutical company’s stock worth $28,493,000 after purchasing an additional 82,625 shares during the period. Cadence Capital Management LLC acquired a new position in BioSpecifics Technologies in the third quarter valued at $2,887,000. Acadian Asset Management LLC boosted its stake in shares of BioSpecifics Technologies by 23.1% during the third quarter. Acadian Asset Management LLC now owns 136,568 shares of the biopharmaceutical company’s stock worth $7,987,000 after buying an additional 25,634 shares during the period. Assenagon Asset Management S.A. purchased a new position in BioSpecifics Technologies in the fourth quarter valued at about $1,447,000. Finally, Matarin Capital Management LLC purchased a new position in shares of BioSpecifics Technologies during the 3rd quarter worth approximately $1,324,000. 58.56% of the stock is 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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