BioSpecifics Technologies Corp. (NASDAQ:BSTC) Director Mark N. Wegman sold 8,500 shares of BioSpecifics Technologies stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $52.63, for a total value of $447,355.00. Following the transaction, the director now directly owns 76,470 shares of the company’s stock, valued at $4,024,616.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

NASDAQ BSTC opened at $51.78 on Friday. BioSpecifics Technologies Corp. has a fifty-two week low of $38.05 and a fifty-two week high of $54.50. The firm has a market capitalization of $385.10 million, a PE ratio of 26.26 and a beta of 1.45.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California Public Employees Retirement System raised its holdings in shares of BioSpecifics Technologies by 8.2% in the second quarter. California Public Employees Retirement System now owns 18,153 shares of the biopharmaceutical company’s stock worth $814,000 after acquiring an additional 1,382 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of BioSpecifics Technologies by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 271,262 shares of the biopharmaceutical company’s stock worth $12,168,000 after acquiring an additional 1,612 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of BioSpecifics Technologies by 1.7% in the second quarter. Acadian Asset Management LLC now owns 110,934 shares of the biopharmaceutical company’s stock worth $4,976,000 after acquiring an additional 1,806 shares during the last quarter. MetLife Investment Advisors LLC acquired a new position in shares of BioSpecifics Technologies in the fourth quarter worth $132,000. Finally, Bank of America Corp DE raised its holdings in shares of BioSpecifics Technologies by 466.7% in the second quarter. Bank of America Corp DE now owns 4,086 shares of the biopharmaceutical company’s stock worth $183,000 after acquiring an additional 3,365 shares during the last quarter. 67.19% of the stock is owned by institutional investors.

Several brokerages recently issued reports on BSTC. HC Wainwright reaffirmed a “buy” rating and set a $65.00 price objective on shares of BioSpecifics Technologies in a report on Thursday, July 5th. BidaskClub raised BioSpecifics Technologies from a “strong sell” rating to a “sell” rating in a report on Friday, June 22nd. Zacks Investment Research raised BioSpecifics Technologies from a “hold” rating to a “strong-buy” rating and set a $62.00 price objective for the company in a report on Tuesday, August 14th. Finally, ValuEngine raised BioSpecifics Technologies from a “sell” rating to a “hold” rating in a report on Thursday, July 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $64.00.

About BioSpecifics Technologies

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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