BioSpecifics Technologies (NASDAQ:BSTC) Upgraded to “Hold” by BidaskClub

BidaskClub upgraded shares of BioSpecifics Technologies (NASDAQ:BSTC) from a sell rating to a hold rating in a report released on Saturday morning, BidAskClub reports.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of BioSpecifics Technologies from a hold rating to a sell rating in a research note on Wednesday, August 14th. HC Wainwright reaffirmed a buy rating and issued a $90.00 price objective (up previously from $85.00) on shares of BioSpecifics Technologies in a research note on Monday, August 12th. Finally, ValuEngine lowered shares of BioSpecifics Technologies from a hold rating to a sell rating in a research note on Thursday, August 1st.

BioSpecifics Technologies stock opened at $58.17 on Friday. The company has a 50 day moving average price of $56.76 and a 200 day moving average price of $61.80. BioSpecifics Technologies has a 52 week low of $52.03 and a 52 week high of $73.31. The firm has a market capitalization of $424.63 million, a price-to-earnings ratio of 21.31 and a beta of 1.17.

BioSpecifics Technologies (NASDAQ:BSTC) last posted its quarterly earnings data on Friday, August 9th. The biopharmaceutical company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.15. BioSpecifics Technologies had a net margin of 63.06% and a return on equity of 21.97%. The firm had revenue of $8.85 million during the quarter, compared to analyst estimates of $8.98 million. Equities analysts expect that BioSpecifics Technologies will post 3.17 earnings per share for the current year.

In other BioSpecifics Technologies news, Director Toby Wegman sold 1,100 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $55.23, for a total value of $60,753.00. Following the completion of the sale, the director now owns 1,890 shares in the company, valued at approximately $104,384.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 16.39% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Aperio Group LLC lifted its position in BioSpecifics Technologies by 14.5% in the 2nd quarter. Aperio Group LLC now owns 4,496 shares of the biopharmaceutical company’s stock worth $269,000 after buying an additional 571 shares in the last quarter. Globeflex Capital L P lifted its position in BioSpecifics Technologies by 17.3% in the 1st quarter. Globeflex Capital L P now owns 6,802 shares of the biopharmaceutical company’s stock worth $424,000 after buying an additional 1,002 shares in the last quarter. Moors & Cabot Inc. purchased a new stake in BioSpecifics Technologies in the 1st quarter worth approximately $274,000. Municipal Employees Retirement System of Michigan purchased a new stake in BioSpecifics Technologies in the 2nd quarter worth approximately $525,000. Finally, Wedge Capital Management L L P NC purchased a new stake in BioSpecifics Technologies in the 2nd quarter worth approximately $1,634,000. Institutional investors own 59.16% 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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