BioSpecifics Technologies Corp. (BSTC) Trading Up 8%
Shares of BioSpecifics Technologies Corp. (NASDAQ:BSTC) were up 8% during mid-day trading on Tuesday . The stock traded as high as $47.42 and last traded at $45.15, with a volume of 156,389 shares. The stock had previously closed at $41.82.
A number of research analysts have recently weighed in on BSTC shares. Rodman & Renshaw reiterated a “buy” rating on shares of BioSpecifics Technologies Corp. in a report on Thursday, June 2nd. Zacks Investment Research upgraded BioSpecifics Technologies Corp. from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 12th.
The stock’s 50 day moving average price is $38.43 and its 200-day moving average price is $37.52. The stock has a market capitalization of $307.69 million, a PE ratio of 29.47 and a beta of 1.22.
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BioSpecifics Technologies Corp. (NASDAQ:BSTC) last posted its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. BioSpecifics Technologies Corp. had a return on equity of 23.71% and a net margin of 43.42%. The firm had revenue of $6.20 million for the quarter, compared to the consensus estimate of $6.25 million. Equities analysts forecast that BioSpecifics Technologies Corp. will post $1.53 EPS for the current year.
In other news, insider Thomas Wegman sold 3,100 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $41.21, for a total value of $127,751.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 23.19% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. American International Group Inc. increased its position in BioSpecifics Technologies Corp. by 4.2% in the second quarter. American International Group Inc. now owns 3,110 shares of the biopharmaceutical company’s stock worth $124,000 after buying an additional 126 shares during the period. Nationwide Fund Advisors increased its position in BioSpecifics Technologies Corp. by 6.5% in the second quarter. Nationwide Fund Advisors now owns 3,563 shares of the biopharmaceutical company’s stock worth $142,000 after buying an additional 217 shares during the period. BlackRock Advisors LLC increased its position in BioSpecifics Technologies Corp. by 1.1% in the second quarter. BlackRock Advisors LLC now owns 25,738 shares of the biopharmaceutical company’s stock worth $1,028,000 after buying an additional 287 shares during the period. State Street Corp increased its position in BioSpecifics Technologies Corp. by 0.5% in the second quarter. State Street Corp now owns 72,391 shares of the biopharmaceutical company’s stock worth $2,893,000 after buying an additional 388 shares during the period. Finally, ClariVest Asset Management LLC increased its position in BioSpecifics Technologies Corp. by 5.1% in the second quarter. ClariVest Asset Management LLC now owns 8,307 shares of the biopharmaceutical company’s stock worth $332,000 after buying an additional 400 shares during the period. 55.78% of the stock is currently owned by institutional investors.
BioSpecifics Technologies Corp. Company Profile
BioSpecifics Technologies Corp. (BioSpecifics) is a biopharmaceutical company. The Company is engaged in the development of an injectable collagenase clostridium histolyticum (CCH) for multiple indications. The Company has a development and license agreement with Endo International plc (Endo) for injectable collagenases for marketed indications and indications in development.
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