BioSpecifics Technologies (BSTC) Releases Quarterly Earnings Results, Beats Estimates By $0.14 EPS

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BioSpecifics Technologies (NASDAQ:BSTC) released its quarterly earnings results on Friday. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.14, MarketWatch Earnings reports. BioSpecifics Technologies had a return on equity of 19.59% and a net margin of 49.78%. The company had revenue of $8.17 million during the quarter, compared to analysts’ expectations of $7.19 million.

Shares of NASDAQ:BSTC traded up $0.46 on Friday, hitting $57.96. The company’s stock had a trading volume of 42,537 shares, compared to its average volume of 39,547. BioSpecifics Technologies has a 12 month low of $38.05 and a 12 month high of $66.21. The stock has a market cap of $463.15 million, a price-to-earnings ratio of 34.09 and a beta of 1.48.

Several research firms have recently issued reports on BSTC. BidaskClub raised BioSpecifics Technologies from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 15th. Zacks Investment Research raised BioSpecifics Technologies from a “hold” rating to a “strong-buy” rating and set a $62.00 price target for the company in a research note on Tuesday, August 14th. Finally, HC Wainwright reissued a “buy” rating and issued a $81.00 price target on shares of BioSpecifics Technologies in a research note on Thursday. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. BioSpecifics Technologies has an average rating of “Buy” and a consensus target price of $69.33.

In related news, Director Mark N. Wegman sold 8,500 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $52.63, for a total transaction of $447,355.00. Following the completion of the transaction, the director now owns 76,470 shares of the company’s stock, valued at $4,024,616.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Of Edwin H. Wegman Estate sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $48.08, for a total value of $480,800.00. Following the transaction, the insider now directly owns 1,005,128 shares of the company’s stock, valued at approximately $48,326,554.24. The disclosure for this sale can be found here. In the last three months, insiders sold 177,952 shares of company stock valued at $8,128,384. Company insiders own 21.40% of the company’s stock.

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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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Earnings History for BioSpecifics Technologies (NASDAQ:BSTC)

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