Zacks: BioSpecifics Technologies Corp. (BSTC) Receives Average Rating of “Strong Buy” from Analysts

Shares of BioSpecifics Technologies Corp. (NASDAQ:BSTC) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.

Analysts have set a 12-month consensus price objective of $85.00 for the company and are predicting that the company will post $0.72 earnings per share for the current quarter, according to Zacks. Zacks has also given BioSpecifics Technologies an industry rank of 81 out of 256 based on the ratings given to its competitors.

Several equities analysts recently weighed in on BSTC shares. Zacks Investment Research lowered shares of BioSpecifics Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th. HC Wainwright reaffirmed a “buy” rating and set a $81.00 price objective on shares of BioSpecifics Technologies in a report on Friday, January 25th. Finally, BidaskClub downgraded shares of BioSpecifics Technologies from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 24th.

BSTC traded down $2.56 during trading on Thursday, hitting $59.60. 1,308 shares of the company’s stock were exchanged, compared to its average volume of 69,102. BioSpecifics Technologies has a fifty-two week low of $40.58 and a fifty-two week high of $73.31. The company has a market cap of $452.53 million, a price-to-earnings ratio of 22.05 and a beta of 1.27.

BioSpecifics Technologies (NASDAQ:BSTC) last posted its earnings results on Friday, May 10th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.02). BioSpecifics Technologies had a return on equity of 21.08% and a net margin of 59.99%. The firm had revenue of $8.13 million during the quarter, compared to the consensus estimate of $8.10 million. On average, analysts forecast that BioSpecifics Technologies will post 3 earnings per share for the current year.

In other news, Director Jennifer M. Chao sold 4,000 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $63.72, for a total value of $254,880.00. Following the sale, the director now directly owns 3,313 shares of the company’s stock, valued at $211,104.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Toby Wegman sold 5,500 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $64.06, for a total transaction of $352,330.00. Following the completion of the sale, the director now directly owns 74,272 shares in the company, valued at $4,757,864.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,500 shares of company stock worth $936,360. Insiders own 21.40% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Advantage Investment Management LLC purchased a new stake in shares of BioSpecifics Technologies in the first quarter worth about $42,000. Great West Life Assurance Co. Can purchased a new stake in shares of BioSpecifics Technologies in the fourth quarter worth about $54,000. BNP Paribas Arbitrage SA lifted its holdings in shares of BioSpecifics Technologies by 60,150.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,205 shares of the biopharmaceutical company’s stock worth $75,000 after buying an additional 1,203 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of BioSpecifics Technologies by 50.1% in the fourth quarter. Legal & General Group Plc now owns 1,211 shares of the biopharmaceutical company’s stock worth $74,000 after buying an additional 404 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in shares of BioSpecifics Technologies by 356.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 2,100 shares of the biopharmaceutical company’s stock worth $127,000 after buying an additional 1,640 shares in the last quarter. 57.86% of the stock is currently owned by hedge funds and other institutional investors.

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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