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

BioSpecifics Technologies Corp. (NASDAQ:BSTC) has received an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Analysts have set a 12 month consensus price objective of $90.00 for the company and are predicting that the company will post $0.94 EPS for the current quarter, according to Zacks. Zacks has also assigned BioSpecifics Technologies an industry rank of 112 out of 255 based on the ratings given to its competitors.

Several research firms have issued reports on BSTC. ValuEngine raised shares of BioSpecifics Technologies from a “sell” rating to a “hold” rating in a research report on Friday, October 4th. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price target on shares of BioSpecifics Technologies in a research report on Wednesday, November 20th. Zacks Investment Research lowered shares of BioSpecifics Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, BidaskClub raised shares of BioSpecifics Technologies from a “sell” rating to a “hold” rating in a research report on Friday.

A number of hedge funds and other institutional investors have recently bought and sold shares of BSTC. Advisor Group Inc. raised its position in BioSpecifics Technologies by 94.2% during the second quarter. Advisor Group Inc. now owns 734 shares of the biopharmaceutical company’s stock worth $44,000 after acquiring an additional 356 shares in the last quarter. Swiss National Bank raised its position in BioSpecifics Technologies by 5.2% during the second quarter. Swiss National Bank now owns 10,200 shares of the biopharmaceutical company’s stock worth $609,000 after acquiring an additional 500 shares in the last quarter. Wells Fargo & Company MN raised its position 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 acquiring an additional 20,830 shares in the last quarter. JPMorgan Chase & Co. raised its position 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 acquiring an additional 1,220 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position 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 acquiring an additional 1,389 shares in the last quarter. 62.87% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ BSTC traded up $0.07 on Friday, hitting $57.12. 49,147 shares of the stock were exchanged, compared to its average volume of 38,116. The business’s fifty day moving average is $56.80 and its 200 day moving average is $55.69. BioSpecifics Technologies has a 52 week low of $45.81 and a 52 week high of $73.31. The company has a market capitalization of $418.71 million, a PE ratio of 18.08 and a beta of 1.22.

BioSpecifics Technologies (NASDAQ:BSTC) last posted its quarterly earnings results on Friday, November 8th. The biopharmaceutical company reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.10. BioSpecifics Technologies had a net margin of 64.23% and a return on equity of 21.82%. The firm had revenue of $9.44 million for the quarter, compared to analyst estimates of $8.86 million. On average, equities analysts expect that BioSpecifics Technologies will post 3.27 EPS 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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