California Public Employees Retirement System Acquires 1,382 Shares of BioSpecifics Technologies Corp. (BSTC)

California Public Employees Retirement System increased its position in BioSpecifics Technologies Corp. (NASDAQ:BSTC) by 8.2% in the second quarter, HoldingsChannel.com reports. The firm owned 18,153 shares of the biopharmaceutical company’s stock after acquiring an additional 1,382 shares during the period. California Public Employees Retirement System’s holdings in BioSpecifics Technologies were worth $814,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in BioSpecifics Technologies by 466.7% in the 2nd quarter. Bank of America Corp DE now owns 4,086 shares of the biopharmaceutical company’s stock worth $183,000 after purchasing an additional 3,365 shares during the period. Citadel Advisors LLC acquired a new position in BioSpecifics Technologies in the 2nd quarter worth approximately $264,000. GSA Capital Partners LLP boosted its stake in BioSpecifics Technologies by 89.7% in the 2nd quarter. GSA Capital Partners LLP now owns 9,500 shares of the biopharmaceutical company’s stock worth $426,000 after purchasing an additional 4,491 shares during the period. Russell Investments Group Ltd. boosted its stake in BioSpecifics Technologies by 639.6% in the 1st quarter. Russell Investments Group Ltd. now owns 9,740 shares of the biopharmaceutical company’s stock worth $431,000 after purchasing an additional 8,423 shares during the period. Finally, Millennium Management LLC boosted its stake in BioSpecifics Technologies by 54.7% in the 1st quarter. Millennium Management LLC now owns 24,611 shares of the biopharmaceutical company’s stock worth $1,091,000 after purchasing an additional 8,698 shares during the period. 57.75% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on BSTC shares. BidaskClub raised shares of BioSpecifics Technologies from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 15th. Zacks Investment Research raised shares of BioSpecifics Technologies from a “hold” rating to a “strong-buy” rating and set a $62.00 price objective for the company in a research note on Tuesday, August 14th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $81.00 price objective on shares of BioSpecifics Technologies in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. BioSpecifics Technologies currently has an average rating of “Buy” and an average target price of $69.33.

In other BioSpecifics Technologies news, Director Toby Wegman sold 2,500 shares of BioSpecifics Technologies stock in a transaction on Friday, August 17th. The shares were sold at an average price of $51.89, for a total transaction of $129,725.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Thomas Wegman sold 23,908 shares of BioSpecifics Technologies 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 sale, the president now directly owns 320,340 shares of the company’s stock, valued at approximately $16,276,475.40. The disclosure for this sale can be found here. Insiders have sold a total of 177,952 shares of company stock valued at $8,128,384 in the last three months. Company insiders own 21.40% of the company’s stock.

BioSpecifics Technologies stock opened at $57.96 on Friday. BioSpecifics Technologies Corp. has a 52 week low of $38.05 and a 52 week high of $66.21. The company has a market capitalization of $458.78 million, a P/E ratio of 34.09 and a beta of 1.48.

BioSpecifics Technologies (NASDAQ:BSTC) last issued its earnings results on Thursday, August 9th. The biopharmaceutical company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.10. The company had revenue of $7.10 million during the quarter, compared to analyst estimates of $7.10 million. BioSpecifics Technologies had a net margin of 49.78% and a return on equity of 19.59%. Analysts forecast that BioSpecifics Technologies Corp. will post 2.28 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “California Public Employees Retirement System Acquires 1,382 Shares of BioSpecifics Technologies Corp. (BSTC)” was published by WKRB News and is the sole property of of WKRB News. If you are accessing this piece on another publication, it was stolen and republished in violation of international copyright and trademark legislation. The correct version of this piece can be accessed at https://www.wkrb13.com/2018/11/10/california-public-employees-retirement-system-acquires-1382-shares-of-biospecifics-technologies-corp-bstc.html.

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.

Further Reading: What is a stock split?

Want to see what other hedge funds are holding BSTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BioSpecifics Technologies Corp. (NASDAQ:BSTC).

Institutional Ownership by Quarter for BioSpecifics Technologies (NASDAQ:BSTC)

Receive News & Ratings for BioSpecifics Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioSpecifics Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply