Brokerages Expect BioSpecifics Technologies Corp. (BSTC) to Post $0.40 Earnings Per Share

Shares of BioSpecifics Technologies Corp. (NASDAQ:BSTC) have received an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.

Brokers have set a 12-month consensus price objective of $72.00 for the company and are expecting that the company will post $0.40 earnings per share for the current quarter, according to Zacks. Zacks has also assigned BioSpecifics Technologies Corp. an industry rank of 77 out of 265 based on the ratings given to related companies.

Separately, Zacks Investment Research raised shares of BioSpecifics Technologies Corp. from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research report on Tuesday, March 21st.

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Shares of BioSpecifics Technologies Corp. (NASDAQ:BSTC) traded down 0.83% during mid-day trading on Monday, reaching $54.05. 10,174 shares of the company’s stock were exchanged. The stock has a market cap of $387.11 million, a price-to-earnings ratio of 34.65 and a beta of 1.31. BioSpecifics Technologies Corp. has a 52-week low of $32.39 and a 52-week high of $58.21. The stock’s 50-day moving average is $53.48 and its 200-day moving average is $50.74.

BioSpecifics Technologies Corp. (NASDAQ:BSTC) last released its earnings results on Wednesday, March 15th. The biopharmaceutical company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The business earned $6.62 million during the quarter, compared to the consensus estimate of $6.76 million. BioSpecifics Technologies Corp. had a net margin of 43.13% and a return on equity of 22.74%. On average, equities analysts expect that BioSpecifics Technologies Corp. will post $1.74 EPS for the current year.

Hedge funds have recently made changes to their positions in the company. ClariVest Asset Management LLC increased its stake in shares of BioSpecifics Technologies Corp. by 1.2% in the third quarter. ClariVest Asset Management LLC now owns 8,407 shares of the biopharmaceutical company’s stock valued at $384,000 after buying an additional 100 shares during the period. Smith Asset Management Group LP increased its stake in shares of BioSpecifics Technologies Corp. by 2.4% in the third quarter. Smith Asset Management Group LP now owns 10,088 shares of the biopharmaceutical company’s stock valued at $461,000 after buying an additional 240 shares during the period. BlackRock Advisors LLC increased its stake in shares of BioSpecifics Technologies Corp. by 1.3% in the third quarter. BlackRock Advisors LLC now owns 26,070 shares of the biopharmaceutical company’s stock valued at $1,191,000 after buying an additional 332 shares during the period. Isthmus Partners LLC increased its stake in shares of BioSpecifics Technologies Corp. by 2.0% in the third quarter. Isthmus Partners LLC now owns 17,741 shares of the biopharmaceutical company’s stock valued at $782,000 after buying an additional 346 shares during the period. Finally, US Bancorp DE increased its stake in shares of BioSpecifics Technologies Corp. by 14.7% in the third quarter. US Bancorp DE now owns 3,470 shares of the biopharmaceutical company’s stock valued at $158,000 after buying an additional 445 shares during the period. 54.13% of the stock is owned by institutional investors.

BioSpecifics Technologies Corp. Company Profile

BioSpecifics Technologies Corp. (BioSpecifics) is a biopharmaceutical company. The Company is engaged in the development of an injectable collagenase clostridium histolyticum (CCH) for multiple indications. The Company has a development and license agreement with Endo International plc (Endo) for injectable collagenases for marketed indications and indications in development.

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