BioSpecifics Technologies (BSTC) Given a $72.00 Price Target by HC Wainwright Analysts

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BioSpecifics Technologies (NASDAQ:BSTC) received a $72.00 price target from investment analysts at HC Wainwright in a research note issued to investors on Thursday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 17.51% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. BidaskClub upgraded shares of BioSpecifics Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, September 13th. Zacks Investment Research downgraded shares of BioSpecifics Technologies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Finally, ValuEngine upgraded shares of BioSpecifics Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $66.33.

Shares of BSTC stock opened at $61.27 on Thursday. The company has a market cap of $441.05 million, a price-to-earnings ratio of 36.04 and a beta of 1.63. BioSpecifics Technologies has a 12-month low of $38.05 and a 12-month high of $65.99.

BioSpecifics Technologies (NASDAQ:BSTC) last issued its quarterly earnings data on Thursday, August 9th. The biopharmaceutical company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.10. The firm had revenue of $7.10 million during the quarter, compared to the consensus estimate of $7.10 million. BioSpecifics Technologies had a net margin of 49.78% and a return on equity of 19.59%. Sell-side analysts anticipate that BioSpecifics Technologies will post 2.28 EPS for the current fiscal year.

In other news, President Thomas Wegman sold 23,908 shares of BioSpecifics Technologies stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $50.81, for a total value of $1,214,765.48. Following the completion of the sale, the president now directly owns 320,340 shares in the company, valued at $16,276,475.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Paul Gitman sold 1,000 shares of BioSpecifics Technologies stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $57.64, for a total transaction of $57,640.00. Following the completion of the sale, the director now owns 20,000 shares of the company’s stock, valued at $1,152,800. The disclosure for this sale can be found here. Insiders have sold 177,952 shares of company stock valued at $8,128,384 over the last 90 days. Company insiders own 21.40% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its position in shares of BioSpecifics Technologies by 5.0% in the second quarter. Renaissance Technologies LLC now owns 526,900 shares of the biopharmaceutical company’s stock valued at $23,637,000 after buying an additional 24,900 shares in the last quarter. BlackRock Inc. raised its position in shares of BioSpecifics Technologies by 25.4% in the second quarter. BlackRock Inc. now owns 404,524 shares of the biopharmaceutical company’s stock valued at $18,146,000 after buying an additional 81,981 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of BioSpecifics Technologies by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 271,262 shares of the biopharmaceutical company’s stock valued at $12,168,000 after buying an additional 1,612 shares in the last quarter. Rice Hall James & Associates LLC raised its position in shares of BioSpecifics Technologies by 26.2% in the second quarter. Rice Hall James & Associates LLC now owns 204,183 shares of the biopharmaceutical company’s stock valued at $9,160,000 after buying an additional 42,429 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of BioSpecifics Technologies by 23.1% in the third quarter. Acadian Asset Management LLC now owns 136,568 shares of the biopharmaceutical company’s stock valued at $7,987,000 after buying an additional 25,634 shares in the last quarter. Institutional investors own 58.02% of the company’s stock.

BioSpecifics Technologies Company Profile

BioSpecifics Technologies Corp., a biopharmaceutical company, engages in the development of an injectable collagenase clostridium histolyticum for multiple indications in the United States and internationally. The company offers injectable collagenase for the treatment of Dupuytren's contracture and Peyronie's disease under the XIAFLEX or Xiapex brand names.

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