BioSpecifics Technologies Corp. (NASDAQ:BSTC) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Brokers have set a 12-month consensus price objective of $81.00 for the company and are anticipating that the company will post $0.68 earnings per share for the current quarter, according to Zacks. Zacks has also given BioSpecifics Technologies an industry rank of 93 out of 256 based on the ratings given to related companies.
A number of equities research analysts have recently weighed in on BSTC shares. BidaskClub lowered shares of BioSpecifics Technologies from a “buy” rating to a “hold” rating in a report on Saturday, September 22nd. Zacks Investment Research downgraded shares of BioSpecifics Technologies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Finally, HC Wainwright set a $72.00 price objective on shares of BioSpecifics Technologies and gave the company a “buy” rating in a research report on Thursday, November 1st.
BioSpecifics Technologies (NASDAQ:BSTC) last released its quarterly earnings data on Friday, November 9th. The biopharmaceutical company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.14. BioSpecifics Technologies had a net margin of 54.96% and a return on equity of 20.81%. The company had revenue of $8.17 million during the quarter, compared to analyst estimates of $7.19 million. As a group, equities research analysts expect that BioSpecifics Technologies will post 2.5 EPS for the current fiscal year.
In other news, major shareholder Of Edwin H. Wegman Estate sold 10,000 shares of the business’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $48.08, for a total transaction of $480,800.00. Following the sale, the insider now owns 1,005,128 shares in the company, valued at approximately $48,326,554.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 21.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. First Manhattan Co. boosted its stake in BioSpecifics Technologies by 20.3% in the 3rd quarter. First Manhattan Co. now owns 47,380 shares of the biopharmaceutical company’s stock worth $2,771,000 after purchasing an additional 8,000 shares in the last quarter. GSA Capital Partners LLP boosted its stake in BioSpecifics Technologies by 89.7% in the 2nd quarter. GSA Capital Partners LLP now owns 9,500 shares of the biopharmaceutical company’s stock worth $426,000 after purchasing an additional 4,491 shares in the last quarter. Wells Fargo & Company MN boosted its stake in BioSpecifics Technologies by 21.2% in the 3rd quarter. Wells Fargo & Company MN now owns 63,129 shares of the biopharmaceutical company’s stock worth $3,693,000 after purchasing an additional 11,054 shares in the last quarter. Shell Asset Management Co. bought a new position in BioSpecifics Technologies in the 3rd quarter worth about $512,000. Finally, Allianz Asset Management GmbH boosted its stake in BioSpecifics Technologies by 5.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 69,865 shares of the biopharmaceutical company’s stock worth $4,086,000 after purchasing an additional 3,353 shares in the last quarter. Hedge funds and other institutional investors own 57.30% of the company’s stock.
BioSpecifics Technologies Company Profile
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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