Eagle Asset Management Inc. reduced its stake in shares of BioSpecifics Technologies Corp. (NASDAQ:BSTC) by 30.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 65,768 shares of the biopharmaceutical company’s stock after selling 28,438 shares during the quarter. Eagle Asset Management Inc.’s holdings in BioSpecifics Technologies were worth $3,985,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its stake in BioSpecifics Technologies by 82.0% in the third quarter. Meeder Asset Management Inc. now owns 2,344 shares of the biopharmaceutical company’s stock valued at $137,000 after buying an additional 1,056 shares in the last quarter. Bank of America Corp DE boosted 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 buying an additional 3,365 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in BioSpecifics Technologies in the third quarter valued at about $225,000. MetLife Investment Advisors LLC acquired a new stake in BioSpecifics Technologies in the third quarter valued at about $273,000. Finally, Alliancebernstein L.P. acquired a new stake in BioSpecifics Technologies in the third quarter valued at about $281,000. 58.56% of the stock is currently owned by institutional investors.
BSTC has been the topic of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $81.00 price objective on shares of BioSpecifics Technologies in a research note on Friday, January 25th. Zacks Investment Research raised BioSpecifics Technologies from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research note on Monday, January 28th. Finally, BidaskClub lowered BioSpecifics Technologies from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 13th.
Shares of BSTC stock opened at $69.10 on Wednesday. BioSpecifics Technologies Corp. has a 12 month low of $39.12 and a 12 month high of $73.31. The stock has a market cap of $513.24 million, a PE ratio of 40.65 and a beta of 1.27.
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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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