Shares of BioSpecifics Technologies Corp. (NASDAQ:BSTC) have been given 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.
Brokerages have set a 1 year consensus price target of $60.00 for the company and are predicting that the company will post $0.41 earnings per share for the current quarter, according to Zacks. Zacks has also assigned BioSpecifics Technologies Corp. an industry rank of 112 out of 265 based on the ratings given to its competitors.
Several research firms have recently issued reports on BSTC. Rodman & Renshaw restated a “buy” rating and issued a $60.00 price target on shares of BioSpecifics Technologies Corp. in a research report on Wednesday, August 10th. Zacks Investment Research lowered BioSpecifics Technologies Corp. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, HC Wainwright restated a “buy” rating and issued a $60.00 price target on shares of BioSpecifics Technologies Corp. in a research report on Thursday, October 6th.
BioSpecifics Technologies Corp. (NASDAQ:BSTC) opened at 45.17 on Friday. BioSpecifics Technologies Corp. has a 12 month low of $30.70 and a 12 month high of $63.20. The firm has a market capitalization of $316.73 million, a price-to-earnings ratio of 30.34 and a beta of 1.17. The firm has a 50-day moving average price of $41.31 and a 200 day moving average price of $38.65.
BioSpecifics Technologies Corp. (NASDAQ:BSTC) last posted its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.02. BioSpecifics Technologies Corp. had a return on equity of 23.71% and a net margin of 43.42%. The business had revenue of $6.20 million for the quarter, compared to analyst estimates of $6.25 million. On average, equities analysts forecast that BioSpecifics Technologies Corp. will post $1.53 EPS for the current year.
In related news, insider Thomas Wegman sold 3,100 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $41.21, for a total transaction of $127,751.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 23.19% of the company’s stock.
A number of hedge funds have recently modified their holdings of BSTC. Eagle Asset Management Inc. acquired a new stake in shares of BioSpecifics Technologies Corp. during the second quarter valued at approximately $4,748,000. Emerald Acquisition Ltd. acquired a new stake in shares of BioSpecifics Technologies Corp. during the second quarter valued at approximately $2,905,000. Numeric Investors LLC acquired a new stake in shares of BioSpecifics Technologies Corp. during the second quarter valued at approximately $2,339,000. PNC Financial Services Group Inc. increased its stake in shares of BioSpecifics Technologies Corp. by 61.9% in the second quarter. PNC Financial Services Group Inc. now owns 110,992 shares of the biopharmaceutical company’s stock valued at $4,431,000 after buying an additional 42,446 shares during the last quarter. Finally, 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 during the last quarter. 55.78% of the stock is currently owned by institutional investors and hedge funds.
About BioSpecifics Technologies Corp.
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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