BioSpecifics Technologies Corp. (BSTC) Downgraded by Zacks Investment Research to Hold
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. “
BSTC has been the topic of a number of other research reports. Rodman & Renshaw restated a buy rating and set a $60.00 target price on shares of BioSpecifics Technologies Corp. in a research note on Wednesday, August 10th. HC Wainwright restated a buy rating and set a $60.00 target price on shares of BioSpecifics Technologies Corp. in a research note on Thursday, October 6th.
Shares of BioSpecifics Technologies Corp. (NASDAQ:BSTC) traded down 0.31% during midday trading on Tuesday, reaching $45.03. 28,062 shares of the company’s stock were exchanged. The stock has a market cap of $315.75 million, a price-to-earnings ratio of 30.24 and a beta of 1.17. The firm has a 50 day moving average of $41.31 and a 200-day moving average of $38.65. BioSpecifics Technologies Corp. has a one year low of $30.70 and a one year high of $63.20.
BioSpecifics Technologies Corp. (NASDAQ:BSTC) last issued its quarterly 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 business had revenue of $6.20 million for the quarter, compared to analysts’ expectations of $6.25 million. BioSpecifics Technologies Corp. had a net margin of 43.42% and a return on equity of 23.71%. On average, equities research analysts anticipate that BioSpecifics Technologies Corp. will post $1.53 earnings per share for the current year.
In other news, insider Thomas Wegman sold 3,100 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $41.21, for a total value of $127,751.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 23.19% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of BSTC. US Bancorp DE increased its stake in BioSpecifics Technologies Corp. by 21.0% in the second quarter. US Bancorp DE now owns 3,025 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 525 shares during the period. American International Group Inc. increased its stake in BioSpecifics Technologies Corp. by 4.2% in the second quarter. American International Group Inc. now owns 3,110 shares of the biopharmaceutical company’s stock worth $124,000 after buying an additional 126 shares during the period. Nationwide Fund Advisors increased its stake in BioSpecifics Technologies Corp. by 6.5% in the second quarter. Nationwide Fund Advisors now owns 3,563 shares of the biopharmaceutical company’s stock worth $142,000 after buying an additional 217 shares during the period. Bank of Montreal Can acquired a new stake in BioSpecifics Technologies Corp. during the second quarter worth $152,000. Finally, Metropolitan Life Insurance Co. NY increased its stake in BioSpecifics Technologies Corp. by 19.0% in the second quarter. Metropolitan Life Insurance Co. NY now owns 4,500 shares of the biopharmaceutical company’s stock worth $180,000 after buying an additional 718 shares during the period. Hedge funds and other institutional investors own 55.78% of the company’s stock.
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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