BioSpecifics Technologies Corp (NASDAQ:BSTC)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a report issued on Thursday. They currently have a $72.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price target indicates a potential upside of 49.38% from the stock’s current price.

The analysts wrote, “We have adjusted our revenue projection for BSTC accordingly, and our current 2017 revenue projection is $28.0M vs. the prior $29.6M, suggesting 7% YoY growth, while our 2018 revenue estimate is now $29.4M vs. the prior $32M.””

BSTC has been the subject of several other reports. Zacks Investment Research downgraded BioSpecifics Technologies Corp from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. BidaskClub downgraded BioSpecifics Technologies Corp from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd.

BioSpecifics Technologies Corp (NASDAQ:BSTC) opened at 48.20 on Thursday. BioSpecifics Technologies Corp has a 1-year low of $35.79 and a 1-year high of $58.79. The firm has a market capitalization of $345.64 million, a price-to-earnings ratio of 29.57 and a beta of 1.76. The firm’s 50-day moving average price is $49.81 and its 200 day moving average price is $51.97.

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Several hedge funds have recently added to or reduced their stakes in BSTC. Renaissance Technologies LLC increased its stake in BioSpecifics Technologies Corp by 6.0% in the first quarter. Renaissance Technologies LLC now owns 352,627 shares of the biopharmaceutical company’s stock worth $19,324,000 after buying an additional 19,881 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in BioSpecifics Technologies Corp by 7.8% in the first quarter. Dimensional Fund Advisors LP now owns 247,114 shares of the biopharmaceutical company’s stock worth $13,541,000 after buying an additional 17,774 shares during the last quarter. Vanguard Group Inc. increased its stake in BioSpecifics Technologies Corp by 1.0% in the first quarter. Vanguard Group Inc. now owns 197,424 shares of the biopharmaceutical company’s stock worth $10,819,000 after buying an additional 1,879 shares during the last quarter. Eagle Asset Management Inc. increased its stake in BioSpecifics Technologies Corp by 0.6% in the second quarter. Eagle Asset Management Inc. now owns 182,206 shares of the biopharmaceutical company’s stock worth $9,021,000 after buying an additional 1,039 shares during the last quarter. Finally, Rice Hall James & Associates LLC increased its stake in BioSpecifics Technologies Corp by 23.9% in the second quarter. Rice Hall James & Associates LLC now owns 161,671 shares of the biopharmaceutical company’s stock worth $8,004,000 after buying an additional 31,175 shares during the last quarter. Hedge funds and other institutional investors own 54.97% of the company’s stock.

About BioSpecifics Technologies Corp

BioSpecifics Technologies Corp. is a biopharmaceutical company involved in the development of an injectable collagenase clostridium histolyticum for multiple indications. The Company has a development and license agreement with Endo Global Ventures, a Bermuda unlimited liability company (Endo Global Ventures), an affiliate of Endo International plc (Endo), for injectable collagenase for marketed indications and indications in development.

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