Shares of BioSpecifics Technologies Corp. (NASDAQ:BSTC) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.
Analysts have set a 12 month consensus price target of $81.00 for the company and are expecting that the company will post $0.68 EPS for the current quarter, according to Zacks. Zacks has also given BioSpecifics Technologies an industry rank of 89 out of 257 based on the ratings given to related companies.
A number of research firms have recently weighed in on BSTC. BidaskClub raised BioSpecifics Technologies from a “buy” rating to a “strong-buy” rating in a report on Monday. HC Wainwright set a $65.00 price target on BioSpecifics Technologies and gave the company a “buy” rating in a report on Friday, August 10th. Finally, Zacks Investment Research raised BioSpecifics Technologies from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Wednesday, November 14th.
BioSpecifics Technologies (NASDAQ:BSTC) last released its quarterly earnings results on Friday, November 9th. The biopharmaceutical company reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.14. The company had revenue of $8.17 million for the quarter, compared to analysts’ expectations of $7.19 million. BioSpecifics Technologies had a return on equity of 20.81% and a net margin of 54.96%. On average, equities analysts forecast that BioSpecifics Technologies will post 2.5 earnings per share for the current fiscal year.
In related news, major shareholder Of Edwin H. Wegman Estate sold 1,607 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $37.61, for a total transaction of $60,439.27. Following the sale, the insider now owns 1,005,128 shares of the company’s stock, valued at $37,802,864.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Of Edwin H. Wegman Estate sold 7,935 shares of the business’s stock in a transaction that occurred on Saturday, September 1st. The stock was sold at an average price of $37.53, for a total value of $297,800.55. Following the sale, the insider now directly owns 1,005,128 shares in the company, valued at approximately $37,722,453.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,247 shares of company stock worth $3,368,139. 21.40% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. grew its position in BioSpecifics Technologies by 82.0% in the third quarter. Meeder Asset Management Inc. now owns 2,344 shares of the biopharmaceutical company’s stock worth $137,000 after buying an additional 1,056 shares during the last quarter. Bank of America Corp DE grew its position in BioSpecifics Technologies by 466.7% in the second quarter. Bank of America Corp DE now owns 4,086 shares of the biopharmaceutical company’s stock worth $183,000 after buying an additional 3,365 shares during the last quarter. Janus Henderson Group PLC acquired a new position in BioSpecifics Technologies in the third quarter worth approximately $225,000. Citadel Advisors LLC acquired a new position in BioSpecifics Technologies in the second quarter worth approximately $264,000. Finally, MetLife Investment Advisors LLC acquired a new position in BioSpecifics Technologies in the third quarter worth approximately $273,000. 57.95% of the stock is currently owned by hedge funds and other institutional investors.
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.
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