H.C. Wainwright Lowers BioSpecifics Technologies Corp (BSTC) Price Target to $65.00

BioSpecifics Technologies Corp (NASDAQ:BSTC) had its price target decreased by H.C. Wainwright from $72.00 to $65.00 in a research note issued to investors on Wednesday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. H.C. Wainwright’s price objective would indicate a potential upside of 49.46% from the company’s previous close.

Several other research firms have also recently commented on BSTC. set a $72.00 target price on BioSpecifics Technologies Corp and gave the company a “buy” rating in a research note on Thursday, August 10th. cut BioSpecifics Technologies Corp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, upgraded BioSpecifics Technologies Corp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th.

Shares of BioSpecifics Technologies Corp (NASDAQ BSTC) opened at $43.49 on Wednesday. The company has a market capitalization of $311.57, a P/E ratio of 27.78 and a beta of 1.64. BioSpecifics Technologies Corp has a 12 month low of $41.95 and a 12 month high of $58.79.

BioSpecifics Technologies Corp (NASDAQ:BSTC) last released its earnings results on Friday, November 10th. The biopharmaceutical company reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The firm had revenue of $6.52 million for the quarter, compared to analysts’ expectations of $6.59 million. BioSpecifics Technologies Corp had a return on equity of 19.11% and a net margin of 42.40%.

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Several large investors have recently bought and sold shares of BSTC. Stonepine Capital Management LLC increased its position in shares of BioSpecifics Technologies Corp 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 purchasing an additional 151,492 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of BioSpecifics Technologies Corp by 94.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 112,894 shares of the biopharmaceutical company’s stock worth $5,589,000 after purchasing an additional 54,777 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of BioSpecifics Technologies Corp by 13.1% during the 2nd quarter. Renaissance Technologies LLC now owns 398,800 shares of the biopharmaceutical company’s stock worth $19,745,000 after purchasing an additional 46,173 shares during the last quarter. Rice Hall James & Associates LLC increased its position in shares of BioSpecifics Technologies Corp by 23.9% during the 2nd quarter. Rice Hall James & Associates LLC now owns 161,671 shares of the biopharmaceutical company’s stock worth $8,004,000 after purchasing an additional 31,175 shares during the last quarter. Finally, Northpointe Capital LLC increased its position in shares of BioSpecifics Technologies Corp by 23.7% during the 3rd quarter. Northpointe Capital LLC now owns 135,657 shares of the biopharmaceutical company’s stock worth $6,311,000 after purchasing an additional 26,013 shares during the last quarter. 53.92% of the stock is currently owned by hedge funds and other institutional investors.

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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