BioSpecifics Technologies (NASDAQ:BSTC) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of BioSpecifics Technologies (NASDAQ:BSTC) from a buy rating to a hold rating in a research report released on Monday morning, Zacks.com reports.

According to Zacks, “BIOSPECIFICS TECHNOLOGIES is engaged in the business of producing and licensing, for sale by other, a U.S. Food and Drug Administration (FDA) approved enzyme derived from collagenase, named Collagenase ABC, and researching, developing and clinically testing additional products derived therefrom for potential use as pharmaceuticals. “

A number of other equities analysts also recently commented on BSTC. ValuEngine raised BioSpecifics Technologies from a sell rating to a hold rating in a research report on Friday, October 4th. BidaskClub raised BioSpecifics Technologies from a sell rating to a hold rating in a research report on Thursday, December 26th. Finally, HC Wainwright reissued a buy rating and set a $90.00 price objective on shares of BioSpecifics Technologies in a research report on Wednesday, November 20th.

Shares of BioSpecifics Technologies stock opened at $54.60 on Monday. BioSpecifics Technologies has a one year low of $45.81 and a one year high of $73.31. The company has a market cap of $404.40 million, a PE ratio of 20.00 and a beta of 1.22. The business has a 50-day simple moving average of $56.66 and a 200-day simple moving average of $55.75.

BioSpecifics Technologies (NASDAQ:BSTC) last announced its quarterly earnings data on Friday, November 8th. The biopharmaceutical company reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.10. BioSpecifics Technologies had a return on equity of 21.82% and a net margin of 64.23%. The business had revenue of $9.44 million during the quarter, compared to the consensus estimate of $8.86 million. On average, analysts forecast that BioSpecifics Technologies will post 3.27 EPS for the current year.

A number of hedge funds have recently bought and sold shares of BSTC. Wells Fargo & Company MN lifted its stake in BioSpecifics Technologies by 29.3% during the second quarter. Wells Fargo & Company MN now owns 91,817 shares of the biopharmaceutical company’s stock worth $5,483,000 after purchasing an additional 20,830 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in BioSpecifics Technologies by 11.7% during the second quarter. JPMorgan Chase & Co. now owns 11,683 shares of the biopharmaceutical company’s stock worth $701,000 after purchasing an additional 1,220 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in BioSpecifics Technologies by 3.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 42,117 shares of the biopharmaceutical company’s stock worth $2,515,000 after purchasing an additional 1,389 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in BioSpecifics Technologies by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 64,006 shares of the biopharmaceutical company’s stock worth $3,822,000 after purchasing an additional 3,028 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in BioSpecifics Technologies by 178.2% during the second quarter. Public Employees Retirement System of Ohio now owns 8,743 shares of the biopharmaceutical company’s stock worth $522,000 after purchasing an additional 5,600 shares during the last quarter. Hedge funds and other institutional investors own 62.87% of the company’s stock.

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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