Zacks Investment Research cut shares of BioSpecifics Technologies (NASDAQ:BSTC) from a buy rating to a hold rating in a report released on Friday.
According to Zacks, “BIOSPECIFICS TECHNOLOGIES is engaged in the business of producing and licensing, for sale by other, a U.S. Food and Drug Administration (FDA) approved enzyme derived from collagenase, named Collagenase ABC, and researching, developing and clinically testing additional products derived therefrom for potential use as pharmaceuticals. “
Other research analysts have also recently issued research reports about the company. HC Wainwright reiterated a buy rating on shares of BioSpecifics Technologies in a research note on Monday, January 1st. cut their price target on BioSpecifics Technologies from $72.00 to $65.00 and set a buy rating on the stock in a research note on Wednesday, November 15th.
BioSpecifics Technologies (NASDAQ:BSTC) last released its quarterly earnings results on Friday, November 10th. The biopharmaceutical company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.01. BioSpecifics Technologies had a return on equity of 19.11% and a net margin of 42.40%. The business had revenue of $6.52 million for the quarter, compared to analysts’ expectations of $6.59 million. equities research analysts expect that BioSpecifics Technologies will post 1.57 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its stake in shares of BioSpecifics Technologies by 94.3% in the second quarter. Goldman Sachs Group Inc. now owns 112,894 shares of the biopharmaceutical company’s stock worth $5,589,000 after acquiring an additional 54,777 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of BioSpecifics Technologies by 1.5% in the second quarter. Vanguard Group Inc. now owns 200,454 shares of the biopharmaceutical company’s stock worth $9,924,000 after acquiring an additional 3,030 shares in the last quarter. Northern Trust Corp lifted its stake in shares of BioSpecifics Technologies by 5.4% in the second quarter. Northern Trust Corp now owns 84,533 shares of the biopharmaceutical company’s stock worth $4,185,000 after acquiring an additional 4,351 shares in the last quarter. AJO LP acquired a new position in shares of BioSpecifics Technologies in the second quarter worth about $501,000. Finally, Northpointe Capital LLC lifted its stake in shares of BioSpecifics Technologies by 23.7% in the third quarter. Northpointe Capital LLC now owns 135,657 shares of the biopharmaceutical company’s stock worth $6,311,000 after acquiring an additional 26,013 shares in the last quarter. Institutional investors and hedge funds own 55.93% of the company’s stock.
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About BioSpecifics Technologies
BioSpecifics Technologies Corp. is a biopharmaceutical company involved in the development of an injectable collagenase clostridium histolyticum for multiple indications. The Company has a development and license agreement with Endo Global Ventures, a Bermuda unlimited liability company (Endo Global Ventures), an affiliate of Endo International plc (Endo), for injectable collagenase for marketed indications and indications in development.
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