BidaskClub upgraded shares of BioSpecifics Technologies (NASDAQ:BSTC) from a hold rating to a buy rating in a research note published on Tuesday morning.

Several other research firms have also recently weighed in on BSTC. Zacks Investment Research upgraded shares of BioSpecifics Technologies from a hold rating to a strong-buy rating and set a $62.00 price objective on the stock in a research report on Tuesday, August 14th. HC Wainwright set a $65.00 price objective on shares of BioSpecifics Technologies and gave the stock a buy rating in a research report on Friday, August 10th. Finally, ValuEngine upgraded shares of BioSpecifics Technologies from a sell rating to a hold rating in a report on Thursday, July 5th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $64.00.

NASDAQ BSTC opened at $62.49 on Tuesday. BioSpecifics Technologies has a twelve month low of $38.05 and a twelve month high of $65.00. The company has a market cap of $445.72 million, a price-to-earnings ratio of 37.18 and a beta of 1.63.

BioSpecifics Technologies (NASDAQ:BSTC) last posted its quarterly earnings data on Thursday, August 9th. The biopharmaceutical company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.10. BioSpecifics Technologies had a net margin of 49.78% and a return on equity of 19.59%. The firm had revenue of $7.10 million for the quarter, compared to analysts’ expectations of $7.10 million. As a group, equities analysts anticipate that BioSpecifics Technologies will post 2.28 earnings per share for the current year.

In other news, President Thomas Wegman sold 23,908 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $50.81, for a total transaction of $1,214,765.48. Following the transaction, the president now directly owns 320,340 shares in the company, valued at approximately $16,276,475.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 transaction, the insider now owns 1,005,128 shares in the company, valued at $48,326,554.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 177,952 shares of company stock worth $8,128,384. 21.40% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. California Public Employees Retirement System lifted its stake in shares of BioSpecifics Technologies by 8.2% in the 2nd quarter. California Public Employees Retirement System now owns 18,153 shares of the biopharmaceutical company’s stock valued at $814,000 after purchasing an additional 1,382 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of BioSpecifics Technologies by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 271,262 shares of the biopharmaceutical company’s stock valued at $12,168,000 after purchasing an additional 1,612 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of BioSpecifics Technologies by 1.7% in the 2nd quarter. Acadian Asset Management LLC now owns 110,934 shares of the biopharmaceutical company’s stock valued at $4,976,000 after purchasing an additional 1,806 shares during the last quarter. Northern Trust Corp lifted its stake in shares of BioSpecifics Technologies by 2.9% in the 2nd quarter. Northern Trust Corp now owns 91,422 shares of the biopharmaceutical company’s stock valued at $4,102,000 after purchasing an additional 2,566 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of BioSpecifics Technologies by 466.7% in the 2nd quarter. Bank of America Corp DE now owns 4,086 shares of the biopharmaceutical company’s stock valued at $183,000 after purchasing an additional 3,365 shares during the last quarter. Institutional investors and hedge funds own 57.92% 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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