Zacks Investment Research Lowers BioSpecifics Technologies (BSTC) to Hold

Zacks Investment Research cut shares of BioSpecifics Technologies (NASDAQ:BSTC) from a buy rating to a hold rating in a research note released on Friday.

According to Zacks, “BIOSPECIFICS TECHNOLOGIES is engaged in the business of producing and licensing, for sale by other, a U.S. Food and Drug Administration (FDA) approved enzyme derived from collagenase, named Collagenase ABC, and researching, developing and clinically testing additional products derived therefrom for potential use as pharmaceuticals. “

Other equities research analysts also recently issued reports about the company. HC Wainwright reissued a buy rating on shares of BioSpecifics Technologies in a report on Tuesday, December 26th. decreased their price objective on BioSpecifics Technologies from $72.00 to $65.00 and set a buy rating for the company in a report on Wednesday, November 15th.

Shares of BioSpecifics Technologies (BSTC) traded down $0.39 on Friday, reaching $42.93. The company had a trading volume of 28,600 shares, compared to its average volume of 27,389. The firm has a market capitalization of $308.63, a P/E ratio of 27.00 and a beta of 1.59. BioSpecifics Technologies has a 52-week low of $41.95 and a 52-week high of $58.79.

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

Several hedge funds have recently bought and sold shares of BSTC. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of BioSpecifics Technologies in the third quarter valued at approximately $223,000. SG Americas Securities LLC acquired a new stake in shares of BioSpecifics Technologies during the second quarter worth $241,000. The Manufacturers Life Insurance Company lifted its holdings in shares of BioSpecifics Technologies by 9.1% during the second quarter. The Manufacturers Life Insurance Company now owns 4,920 shares of the biopharmaceutical company’s stock worth $244,000 after purchasing an additional 410 shares during the period. Rhumbline Advisers lifted its holdings in shares of BioSpecifics Technologies by 7.5% during the second quarter. Rhumbline Advisers now owns 6,667 shares of the biopharmaceutical company’s stock worth $330,000 after purchasing an additional 466 shares during the period. Finally, Teachers Advisors LLC lifted its holdings in shares of BioSpecifics Technologies by 14.8% during the second quarter. Teachers Advisors LLC now owns 10,098 shares of the biopharmaceutical company’s stock worth $500,000 after purchasing an additional 1,305 shares during the period. 55.93% of the stock is owned by institutional investors and hedge funds.

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About BioSpecifics Technologies

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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