BioSpecifics Technologies Corp. (BSTC) Trading 8% Higher
BioSpecifics Technologies Corp. (NASDAQ:BSTC)’s share price traded up 8% on Tuesday . The stock traded as high as $47.42 and last traded at $45.15, with a volume of 156,389 shares trading hands. The stock had previously closed at $41.82.
Several equities analysts have weighed in on the stock. Rodman & Renshaw restated a “buy” rating and set a $60.00 target price on shares of BioSpecifics Technologies Corp. in a report on Wednesday, August 10th. Zacks Investment Research upgraded shares of BioSpecifics Technologies Corp. from a “hold” rating to a “strong-buy” rating and set a $45.00 price target for the company in a report on Thursday, August 11th.
The stock has a market capitalization of $306.78 million, a price-to-earnings ratio of 29.38 and a beta of 1.22. The company has a 50 day moving average price of $38.63 and a 200 day moving average price of $37.63.
BioSpecifics Technologies Corp. (NASDAQ:BSTC) last released its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. The business earned $6.20 million during the quarter, compared to analyst estimates of $6.25 million. BioSpecifics Technologies Corp. had a net margin of 43.42% and a return on equity of 23.71%. Analysts predict that BioSpecifics Technologies Corp. will post $1.53 EPS for the current year.
In related news, insider Thomas Wegman sold 9,201 shares of the company’s stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $37.53, for a total value of $345,313.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.19% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the company. 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 valued at $121,000 after buying an additional 525 shares during the last quarter. 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 valued at $124,000 after buying an additional 126 shares during the last quarter. 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 valued at $142,000 after buying an additional 217 shares during the last quarter. Bank of Montreal Can bought a new stake in BioSpecifics Technologies Corp. during the second quarter valued at $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 valued at $180,000 after buying an additional 718 shares during the last quarter. 55.78% of the stock is owned by institutional investors and hedge funds.
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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