BioSpecifics Technologies Corp. (NASDAQ:BSTC) Given Average Rating of “Strong Buy” by Analysts

Shares of BioSpecifics Technologies Corp. (NASDAQ:BSTC) have earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, 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 $90.00 for the company and are predicting that the company will post $0.94 earnings per share for the current quarter, according to Zacks. Zacks has also assigned BioSpecifics Technologies an industry rank of 58 out of 255 based on the ratings given to related companies.

Several equities research analysts recently commented on BSTC shares. BidaskClub raised BioSpecifics Technologies from a “strong sell” rating to a “sell” rating in a research note on Wednesday. ValuEngine raised BioSpecifics Technologies from a “sell” rating to a “hold” rating in a research note on Friday, October 4th. HC Wainwright reissued a “buy” rating and issued a $90.00 price target on shares of BioSpecifics Technologies in a research note on Wednesday, November 20th. Finally, Zacks Investment Research cut BioSpecifics Technologies from a “buy” rating to a “hold” rating in a research note on Friday, October 25th.

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 stock was 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 of the company’s stock, valued at approximately $104,384.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 16.39% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its holdings in BioSpecifics Technologies by 140.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 485 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 283 shares during the last quarter. Advisor Group Inc. lifted its holdings in BioSpecifics Technologies by 94.2% in the 2nd quarter. Advisor Group Inc. now owns 734 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 356 shares during the last quarter. Advantage Investment Management LLC lifted its holdings in BioSpecifics Technologies by 40.9% in the 2nd quarter. Advantage Investment Management LLC now owns 957 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 278 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in BioSpecifics Technologies by 10.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 2,274 shares of the biopharmaceutical company’s stock worth $122,000 after purchasing an additional 206 shares during the last quarter. Finally, Nisa Investment Advisors LLC acquired a new stake in BioSpecifics Technologies in the 3rd quarter worth approximately $189,000. Hedge funds and other institutional investors own 62.87% of the company’s stock.

BSTC traded up $0.32 during trading on Wednesday, reaching $55.46. The company had a trading volume of 59,649 shares, compared to its average volume of 54,894. The firm’s 50-day simple moving average is $51.14 and its 200 day simple moving average is $56.25. The company has a market cap of $408.10 million, a price-to-earnings ratio of 20.32 and a beta of 1.22. BioSpecifics Technologies has a 12-month low of $45.81 and a 12-month high of $73.31.

BioSpecifics Technologies (NASDAQ:BSTC) last issued its quarterly earnings results on Friday, November 8th. The biopharmaceutical company reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.10. The firm had revenue of $9.44 million for the quarter, compared to analysts’ expectations of $8.86 million. BioSpecifics Technologies had a return on equity of 21.82% and a net margin of 64.23%. Analysts anticipate that BioSpecifics Technologies will post 3.27 earnings per share for the current fiscal year.

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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