Insider Selling: BioSpecifics Technologies Corp. (BSTC) Director Sells 5,000 Shares of Stock

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BioSpecifics Technologies Corp. (NASDAQ:BSTC) Director Paul Gitman sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $65.83, for a total value of $329,150.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of NASDAQ BSTC traded down $1.67 during trading on Friday, reaching $64.33. The company had a trading volume of 104,590 shares, compared to its average volume of 52,225. BioSpecifics Technologies Corp. has a 12 month low of $40.58 and a 12 month high of $73.31. The firm has a market capitalization of $480.48 million, a PE ratio of 23.93 and a beta of 1.27.

BioSpecifics Technologies (NASDAQ:BSTC) last released its quarterly earnings results on Friday, May 10th. The biopharmaceutical company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.02). BioSpecifics Technologies had a net margin of 59.99% and a return on equity of 21.08%. The company had revenue of $8.13 million during the quarter, compared to the consensus estimate of $8.10 million. On average, analysts forecast that BioSpecifics Technologies Corp. will post 3 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the stock. Advantage Investment Management LLC bought a new stake in shares of BioSpecifics Technologies during the 1st quarter valued at about $42,000. Great West Life Assurance Co. Can bought a new stake in shares of BioSpecifics Technologies during the 4th quarter valued at about $54,000. Legal & General Group Plc boosted its position in shares of BioSpecifics Technologies by 50.1% during the 4th quarter. Legal & General Group Plc now owns 1,211 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 404 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of BioSpecifics Technologies by 60,150.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,205 shares of the biopharmaceutical company’s stock valued at $75,000 after purchasing an additional 1,203 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of BioSpecifics Technologies by 356.5% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 2,100 shares of the biopharmaceutical company’s stock valued at $127,000 after purchasing an additional 1,640 shares in the last quarter. Institutional investors own 60.69% of the company’s stock.

BSTC has been the topic of a number of analyst reports. Zacks Investment Research upgraded BioSpecifics Technologies from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Monday, January 28th. HC Wainwright reiterated a “buy” rating and issued a $81.00 price target on shares of BioSpecifics Technologies in a research report on Friday, January 25th. Finally, BidaskClub lowered BioSpecifics Technologies from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 24th.

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About BioSpecifics Technologies

BioSpecifics Technologies Corp., a biopharmaceutical company, engages in the development of an injectable collagenase clostridium histolyticum for various 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 brands.

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