A number of other analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of BioSpecifics Technologies from a sell rating to a hold rating in a report on Tuesday, October 10th. lowered their price target on BioSpecifics Technologies from $72.00 to $65.00 and set a buy rating for the company in a research report on Wednesday, November 15th.
Shares of BioSpecifics Technologies (BSTC) traded up $0.02 during trading on Monday, hitting $43.81. 14,500 shares of the stock traded hands, compared to its average volume of 15,800. BioSpecifics Technologies has a 1 year low of $41.95 and a 1 year high of $58.79. The company has a market capitalization of $314.82, a PE ratio of 27.55 and a beta of 1.59.
BioSpecifics Technologies (NASDAQ:BSTC) last released its quarterly earnings results on Friday, November 10th. The biopharmaceutical company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. The business had revenue of $6.52 million for the quarter, compared to analysts’ expectations of $6.59 million. BioSpecifics Technologies had a net margin of 42.40% and a return on equity of 19.11%. sell-side analysts predict that BioSpecifics Technologies will post 1.57 earnings per share for the current year.
Several large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its stake in shares of BioSpecifics Technologies by 13.1% during the 2nd quarter. Renaissance Technologies LLC now owns 398,800 shares of the biopharmaceutical company’s stock valued at $19,745,000 after acquiring an additional 46,173 shares during the period. Dimensional Fund Advisors LP boosted its stake in BioSpecifics Technologies by 1.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 269,554 shares of the biopharmaceutical company’s stock worth $12,540,000 after purchasing an additional 3,878 shares during the period. Stonepine Capital Management LLC raised its holdings in shares of BioSpecifics Technologies by 253.0% during the 3rd quarter. Stonepine Capital Management LLC now owns 211,370 shares of the biopharmaceutical company’s stock worth $9,833,000 after acquiring an additional 151,492 shares in the last quarter. Vanguard Group Inc. raised its holdings in BioSpecifics Technologies by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 200,454 shares of the biopharmaceutical company’s stock valued at $9,924,000 after buying an additional 3,030 shares during the period. Finally, Eagle Asset Management Inc. raised its holdings in BioSpecifics Technologies by 1.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 185,142 shares of the biopharmaceutical company’s stock valued at $8,807,000 after buying an additional 2,936 shares during the period. Institutional investors own 55.93% of the company’s stock.
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BioSpecifics Technologies Company Profile
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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