BioSpecifics Technologies Corp. (NASDAQ:BSTC) major shareholder Of Edwin H. Wegman Estate sold 3,100 shares of the company’s stock in a transaction on Saturday, September 15th. The shares were sold at an average price of $41.21, for a total transaction of $127,751.00. Following the completion of the sale, the insider now directly owns 1,005,128 shares in the company, valued at $41,421,324.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Shares of NASDAQ:BSTC traded up $0.14 on Friday, reaching $51.91. 39,300 shares of the company’s stock were exchanged, compared to its average volume of 25,670. The stock has a market capitalization of $350.52 million, a price-to-earnings ratio of 30.54 and a beta of 1.45. BioSpecifics Technologies Corp. has a fifty-two week low of $38.05 and a fifty-two week high of $54.50.

BioSpecifics Technologies (NASDAQ:BSTC) last issued its 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. The company had revenue of $7.10 million for the quarter, compared to analysts’ expectations of $7.10 million. BioSpecifics Technologies had a net margin of 49.78% and a return on equity of 19.59%. sell-side analysts predict that BioSpecifics Technologies Corp. will post 2.09 earnings per share for the current fiscal year.

BSTC has been the topic of several recent analyst reports. HC Wainwright set a $65.00 price target on shares of BioSpecifics Technologies and gave the company a “buy” rating in a report on Thursday, May 10th. Zacks Investment Research raised shares of BioSpecifics Technologies from a “hold” rating to a “strong-buy” rating and set a $62.00 price target on the stock in a report on Tuesday. BidaskClub raised shares of BioSpecifics Technologies from a “strong sell” rating to a “sell” rating in a report on Friday, May 18th. Finally, ValuEngine raised shares of BioSpecifics Technologies from a “sell” rating to a “hold” rating in a report on Thursday, July 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $64.00.

Several large investors have recently modified their holdings of BSTC. Geode Capital Management LLC raised its holdings in shares of BioSpecifics Technologies by 9.6% during the fourth quarter. Geode Capital Management LLC now owns 58,963 shares of the biopharmaceutical company’s stock worth $2,554,000 after purchasing an additional 5,160 shares during the period. Deutsche Bank AG raised its holdings in shares of BioSpecifics Technologies by 26.4% during the fourth quarter. Deutsche Bank AG now owns 32,157 shares of the biopharmaceutical company’s stock worth $1,392,000 after purchasing an additional 6,709 shares during the period. Millennium Management LLC raised its holdings in shares of BioSpecifics Technologies by 86.8% during the fourth quarter. Millennium Management LLC now owns 15,913 shares of the biopharmaceutical company’s stock worth $690,000 after purchasing an additional 7,396 shares during the period. MetLife Investment Advisors LLC acquired a new stake in shares of BioSpecifics Technologies during the fourth quarter worth $132,000. Finally, Summit Global Investments acquired a new stake in shares of BioSpecifics Technologies during the first quarter worth $616,000. 58.92% of the stock is currently owned by institutional investors.

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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