Zacks: Analysts Set $60.00 Target Price for BioSpecifics Technologies Corp. (NASDAQ:BSTC)
Shares of BioSpecifics Technologies Corp. (NASDAQ:BSTC) have earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Analysts have set a 12-month consensus price objective of $60.00 for the company and are anticipating that the company will post $0.41 earnings per share for the current quarter, according to Zacks. Zacks has also given BioSpecifics Technologies Corp. an industry rank of 87 out of 265 based on the ratings given to its competitors.
A number of research firms have issued reports on BSTC. HC Wainwright reissued a “buy” rating and issued a $60.00 target price on shares of BioSpecifics Technologies Corp. in a research note on Thursday. Rodman & Renshaw reissued a “buy” rating and issued a $60.00 target price on shares of BioSpecifics Technologies Corp. in a research note on Wednesday, August 10th. Finally, Zacks Investment Research raised BioSpecifics Technologies Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 12th.
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Shares of BioSpecifics Technologies Corp. (NASDAQ:BSTC) traded down 0.15% during midday trading on Friday, reaching $45.65. The company had a trading volume of 75,138 shares. The firm has a market cap of $320.10 million, a P/E ratio of 30.66 and a beta of 1.17. The company’s 50-day moving average is $40.57 and its 200-day moving average is $38.34. BioSpecifics Technologies Corp. has a 52-week low of $30.70 and a 52-week high of $63.20.
BioSpecifics Technologies Corp. (NASDAQ:BSTC) last posted its earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 earned $6.20 million during the quarter, compared to analysts’ expectations of $6.25 million. Equities research analysts expect that BioSpecifics Technologies Corp. will post $1.53 EPS for the current fiscal year.
In other news, President Thomas Wegman sold 4,173 shares of the business’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $38.08, for a total value of $158,907.84. Following the sale, the president now directly owns 191,722 shares in the company, valued at $7,300,773.76. The sale 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 have recently modified their holdings of the stock. US Bancorp DE raised its stake in shares of BioSpecifics Technologies Corp. by 21.0% in the second quarter. US Bancorp DE now owns 3,025 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 525 shares during the period. American International Group Inc. raised its stake in shares of 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 raised its stake in shares of 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. Bank of Montreal Can purchased a new stake in shares of BioSpecifics Technologies Corp. during the second quarter worth approximately $152,000. Finally, Metropolitan Life Insurance Co. NY raised its stake in shares of BioSpecifics Technologies Corp. by 19.0% in the second quarter. Metropolitan Life Insurance Co. NY now owns 4,500 shares of the biopharmaceutical company’s stock worth $180,000 after buying an additional 718 shares during the period. Institutional investors own 55.78% of the company’s stock.
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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