BioSpecifics Technologies (BSTC) Downgraded by BidaskClub

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BioSpecifics Technologies (NASDAQ:BSTC) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Thursday.

Several other analysts also recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $81.00 price objective on shares of BioSpecifics Technologies in a report on Thursday, November 8th. Zacks Investment Research downgraded BioSpecifics Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 10th.

BSTC stock opened at $62.18 on Thursday. The stock has a market capitalization of $484.07 million, a P/E ratio of 36.58 and a beta of 1.26. BioSpecifics Technologies has a 1-year low of $38.05 and a 1-year high of $68.00.

BioSpecifics Technologies (NASDAQ:BSTC) last released its quarterly earnings data on Friday, November 9th. The biopharmaceutical company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.14. The firm had revenue of $8.17 million during the quarter, compared to the consensus estimate of $7.19 million. BioSpecifics Technologies had a return on equity of 20.81% and a net margin of 54.96%. On average, research analysts anticipate that BioSpecifics Technologies will post 2.5 EPS for the current fiscal year.

In related news, major shareholder Of Edwin H. Wegman Estate sold 10,000 shares of BioSpecifics Technologies stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $48.08, for a total value of $480,800.00. Following the completion of the sale, the insider now directly owns 1,005,128 shares in the company, valued at $48,326,554.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 21.40% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of BSTC. Russell Investments Group Ltd. grew its stake in BioSpecifics Technologies by 166.1% in the second quarter. Russell Investments Group Ltd. now owns 25,917 shares of the biopharmaceutical company’s stock valued at $1,162,000 after purchasing an additional 16,177 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in BioSpecifics Technologies by 8.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 46,426 shares of the biopharmaceutical company’s stock valued at $2,083,000 after purchasing an additional 3,514 shares during the last quarter. BlackRock Inc. grew its stake in BioSpecifics Technologies by 25.4% in the second quarter. BlackRock Inc. now owns 404,524 shares of the biopharmaceutical company’s stock valued at $18,146,000 after purchasing an additional 81,981 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in BioSpecifics Technologies by 0.6% in the second 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. Finally, Bank of America Corp DE grew its stake in 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 valued at $183,000 after purchasing an additional 3,365 shares during the last quarter. Institutional investors own 57.37% of the company’s stock.

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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