BioSpecifics Technologies Corp. (NASDAQ:BSTC) shares dropped 3% during trading on Monday . The stock traded as low as $39.71 and last traded at $39.78, with a volume of 50,974 shares traded. The stock had previously closed at $41.00.

BSTC has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of BioSpecifics Technologies Corp. from a “hold” rating to a “strong-buy” rating and set a $45.00 price objective for the company in a research note on Thursday, August 11th. Rodman & Renshaw reiterated a “buy” rating on shares of BioSpecifics Technologies Corp. in a research note on Monday, June 13th.

The company has a 50-day moving average of $40.23 and a 200-day moving average of $37.33. The stock has a market capitalization of $278.94 million and a PE ratio of 26.72.

BioSpecifics Technologies Corp. (NASDAQ:BSTC) last announced its earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.02. The company had revenue of $6.20 million for the quarter, compared to analysts’ expectations of $6.25 million. Equities research analysts forecast that BioSpecifics Technologies Corp. will post $1.40 earnings per share for the current year.

In other BioSpecifics Technologies Corp. news, major shareholder Thomas Wegman sold 50,000 shares of the stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $33.01, for a total transaction of $1,650,500.00. Following the completion of the transaction, the insider now owns 220,772 shares of the company’s stock, valued at $7,287,683.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Toby Wegman sold 25,000 shares of the stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $33.01, for a total transaction of $825,250.00. The disclosure for this sale can be found here.

An institutional investor recently raised its position in BioSpecifics Technologies Corp. stock. Russell Frank Co raised its stake in shares of BioSpecifics Technologies Corp. (NASDAQ:BSTC) by 9.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,229 shares of the biopharmaceutical company’s stock after buying an additional 5,842 shares during the period. Russell Frank Co owned 0.96% of BioSpecifics Technologies Corp. worth $2,848,000 at the end of the most recent reporting period.

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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