Rice Hall James & Associates LLC increased its stake in BioSpecifics Technologies Corp. (NASDAQ:BSTC) by 6.8% during the second quarter, Holdings Channel reports. The institutional investor owned 121,002 shares of the biopharmaceutical company’s stock after buying an additional 7,755 shares during the period. Rice Hall James & Associates LLC’s holdings in BioSpecifics Technologies Corp. were worth $4,833,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in BSTC. Eagle Asset Management Inc. bought a new stake in shares of BioSpecifics Technologies Corp. during the second quarter valued at $4,748,000. Royce & Associates LP increased its stake in shares of BioSpecifics Technologies Corp. by 61.5% in the first quarter. Royce & Associates LP now owns 74,590 shares of the biopharmaceutical company’s stock valued at $2,597,000 after buying an additional 28,390 shares in the last quarter. American Century Companies Inc. increased its stake in shares of BioSpecifics Technologies Corp. by 59.3% in the second quarter. American Century Companies Inc. now owns 56,335 shares of the biopharmaceutical company’s stock valued at $2,250,000 after buying an additional 20,979 shares in the last quarter. Bogle Investment Management L P DE bought a new stake in shares of BioSpecifics Technologies Corp. during the first quarter valued at $714,000. Finally, Smith Asset Management Group LP increased its stake in shares of BioSpecifics Technologies Corp. by 2,374.4% in the second quarter. Smith Asset Management Group LP now owns 9,848 shares of the biopharmaceutical company’s stock valued at $393,000 after buying an additional 9,450 shares in the last quarter. 55.78% of the stock is currently owned by institutional investors.
BioSpecifics Technologies Corp. (NASDAQ:BSTC) traded up 1.58% during midday trading on Wednesday, hitting $45.77. The stock had a trading volume of 91,454 shares. BioSpecifics Technologies Corp. has a 12 month low of $30.70 and a 12 month high of $63.20. The stock has a market cap of $320.94 million, a price-to-earnings ratio of 30.74 and a beta of 1.17. The stock has a 50 day moving average of $40.35 and a 200 day moving average of $38.28.
BioSpecifics Technologies Corp. (NASDAQ:BSTC) last announced its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. BioSpecifics Technologies Corp. had a net margin of 43.42% and a return on equity of 23.71%. The firm earned $6.20 million during the quarter, compared to analysts’ expectations of $6.25 million. Analysts expect that BioSpecifics Technologies Corp. will post $1.53 EPS for the current fiscal year.
A number of equities research analysts have recently commented on the company. Rodman & Renshaw restated a “buy” rating and set a $60.00 target price on shares of BioSpecifics Technologies Corp. in a research report on Wednesday, August 10th. Zacks Investment Research upgraded BioSpecifics Technologies Corp. from a “hold” rating to a “strong-buy” rating and set a $45.00 target price on the stock in a research report on Thursday, August 11th.
In related news, President Thomas Wegman sold 4,173 shares of the business’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $38.08, for a total value of $158,907.84. Following the completion of the sale, the president now directly owns 191,722 shares of the company’s stock, valued at $7,300,773.76. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 23.19% of the stock is currently owned by corporate insiders.
BioSpecifics Technologies Corp. Company Profile
BioSpecifics Technologies Corp. (BioSpecifics) is a biopharmaceutical company. The Company is engaged in the development of an injectable collagenase clostridium histolyticum (CCH) for multiple indications. The Company has a development and license agreement with Endo International plc (Endo) for injectable collagenases for marketed indications and indications in development.
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