BioSpecifics Technologies Corp’s (BSTC) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of BioSpecifics Technologies Corp (NASDAQ:BSTC) in a research report sent to investors on Monday morning, MarketBeat Ratings reports. HC Wainwright currently has a $65.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $72.00.

Several other brokerages also recently weighed in on BSTC. Zacks Investment Research raised BioSpecifics Technologies Corp from a sell rating to a hold rating in a research note on Tuesday, October 10th. BidaskClub downgraded BioSpecifics Technologies Corp from a sell rating to a strong sell rating in a research note on Friday, August 18th.

Shares of BioSpecifics Technologies Corp (NASDAQ:BSTC) traded up $0.75 on Monday, hitting $44.12. The stock had a trading volume of 20,500 shares, compared to its average volume of 26,459. The firm has a market cap of $311.80, a price-to-earnings ratio of 27.28 and a beta of 1.64. BioSpecifics Technologies Corp has a one year low of $41.95 and a one year high of $58.79.

BioSpecifics Technologies Corp (NASDAQ:BSTC) last announced its quarterly earnings results on Friday, November 10th. The biopharmaceutical company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. The business had revenue of $6.52 million for the quarter, compared to the consensus estimate of $6.59 million. BioSpecifics Technologies Corp had a return on equity of 19.11% and a net margin of 42.40%. research analysts anticipate that BioSpecifics Technologies Corp will post 1.57 earnings per share for the current fiscal year.

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Several hedge funds have recently modified their holdings of BSTC. American International Group Inc. increased its position in shares of BioSpecifics Technologies Corp by 7.1% during the 1st quarter. American International Group Inc. now owns 3,327 shares of the biopharmaceutical company’s stock valued at $182,000 after purchasing an additional 222 shares during the period. Alliancebernstein L.P. increased its position in shares of BioSpecifics Technologies Corp by 401.8% during the 1st quarter. Alliancebernstein L.P. now owns 40,820 shares of the biopharmaceutical company’s stock valued at $2,237,000 after purchasing an additional 32,685 shares during the period. Vanguard Group Inc. grew its holdings in shares of BioSpecifics Technologies Corp by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 197,424 shares of the biopharmaceutical company’s stock worth $10,819,000 after acquiring an additional 1,879 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of BioSpecifics Technologies Corp by 16.7% in the 1st quarter. Geode Capital Management LLC now owns 66,059 shares of the biopharmaceutical company’s stock worth $3,619,000 after acquiring an additional 9,462 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of BioSpecifics Technologies Corp by 7.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 247,114 shares of the biopharmaceutical company’s stock worth $13,541,000 after acquiring an additional 17,774 shares during the last quarter. Institutional investors own 53.92% of the company’s stock.

About BioSpecifics Technologies Corp

BioSpecifics Technologies Corp. is a biopharmaceutical company involved in the development of an injectable collagenase clostridium histolyticum for multiple indications. The Company has a development and license agreement with Endo Global Ventures, a Bermuda unlimited liability company (Endo Global Ventures), an affiliate of Endo International plc (Endo), for injectable collagenase for marketed indications and indications in development.

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