Invesco Ltd. Sells 5,811 Shares of BioSpecifics Technologies Corp. (NASDAQ:BSTC)

Invesco Ltd. lessened its stake in shares of BioSpecifics Technologies Corp. (NASDAQ:BSTC) by 25.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 17,216 shares of the biopharmaceutical company’s stock after selling 5,811 shares during the period. Invesco Ltd.’s holdings in BioSpecifics Technologies were worth $1,027,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BSTC. WINTON GROUP Ltd bought a new stake in shares of BioSpecifics Technologies during the second quarter valued at approximately $434,000. Navellier & Associates Inc raised its stake in shares of BioSpecifics Technologies by 3.5% during the second quarter. Navellier & Associates Inc now owns 16,309 shares of the biopharmaceutical company’s stock valued at $974,000 after acquiring an additional 554 shares in the last quarter. Strs Ohio raised its stake in shares of BioSpecifics Technologies by 12.8% during the second quarter. Strs Ohio now owns 10,600 shares of the biopharmaceutical company’s stock valued at $632,000 after acquiring an additional 1,200 shares in the last quarter. Bowling Portfolio Management LLC bought a new stake in shares of BioSpecifics Technologies during the second quarter valued at approximately $387,000. Finally, Virginia Retirement Systems ET AL raised its stake in shares of BioSpecifics Technologies by 38.3% during the second quarter. Virginia Retirement Systems ET AL now owns 25,300 shares of the biopharmaceutical company’s stock valued at $1,511,000 after acquiring an additional 7,000 shares in the last quarter. 59.07% of the stock is owned by hedge funds and other institutional investors.

BSTC has been the subject of a number of recent research reports. ValuEngine raised shares of BioSpecifics Technologies from a “sell” rating to a “hold” rating in a research note on Friday, October 4th. Zacks Investment Research downgraded shares of BioSpecifics Technologies from a “buy” rating to a “hold” rating in a research note on Friday. HC Wainwright set a $90.00 price objective on shares of BioSpecifics Technologies and gave the stock a “buy” rating in a research note on Friday, October 11th. Finally, BidaskClub downgraded shares of BioSpecifics Technologies from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 17th.

Shares of NASDAQ:BSTC opened at $47.48 on Tuesday. The company has a market capitalization of $357.57 million, a price-to-earnings ratio of 16.26 and a beta of 1.21. BioSpecifics Technologies Corp. has a 52 week low of $46.27 and a 52 week high of $73.31. The firm has a 50 day moving average of $53.87 and a 200 day moving average of $59.44.

BioSpecifics Technologies (NASDAQ:BSTC) last issued 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. The company had revenue of $8.85 million during the quarter, compared to the consensus estimate of $8.98 million. BioSpecifics Technologies had a net margin of 63.06% and a return on equity of 21.97%. As a group, equities analysts anticipate that BioSpecifics Technologies Corp. will post 3.17 earnings per share for the current fiscal year.

In related news, Director Toby Wegman sold 1,100 shares of the business’s 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 transaction, the director now owns 1,890 shares of the company’s stock, valued at $104,384.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 16.39% of the company’s stock.

About BioSpecifics Technologies

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.

Further Reading: Dividend Aristocrat Index

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

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