BioSpecifics Technologies Corp. (BSTC) Sees Large Increase in Short Interest
BioSpecifics Technologies Corp. (NASDAQ:BSTC) was the recipient of a significant increase in short interest during the month of April. As of April 28th, there was short interest totalling 137,738 shares, an increase of 15.5% from the April 13th total of 119,218 shares. Based on an average daily volume of 30,356 shares, the days-to-cover ratio is presently 4.5 days.
Separately, Zacks Investment Research upgraded BioSpecifics Technologies Corp. from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Tuesday, March 21st.
BioSpecifics Technologies Corp. (NASDAQ:BSTC) traded down 0.45% during midday trading on Tuesday, reaching $50.87. The company had a trading volume of 19,972 shares. BioSpecifics Technologies Corp. has a 12 month low of $35.40 and a 12 month high of $58.79. The firm’s 50-day moving average price is $54.27 and its 200 day moving average price is $52.56. The firm has a market capitalization of $364.79 million, a PE ratio of 31.21 and a beta of 1.31.
BioSpecifics Technologies Corp. (NASDAQ:BSTC) last issued its quarterly earnings data on Wednesday, March 15th. The biopharmaceutical company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. BioSpecifics Technologies Corp. had a return on equity of 22.74% and a net margin of 43.13%. The firm had revenue of $6.62 million during the quarter, compared to analyst estimates of $6.76 million. Equities analysts anticipate that BioSpecifics Technologies Corp. will post $1.73 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the stock. Numeric Investors LLC acquired a new stake in shares of BioSpecifics Technologies Corp. during the fourth quarter worth $8,589,000. Wedge Capital Management L L P NC acquired a new stake in shares of BioSpecifics Technologies Corp. during the first quarter worth $2,093,000. Alliancebernstein L.P. raised its stake in shares of BioSpecifics Technologies Corp. by 401.8% in the first quarter. Alliancebernstein L.P. now owns 40,820 shares of the biopharmaceutical company’s stock worth $2,237,000 after buying an additional 32,685 shares during the period. Renaissance Technologies LLC raised its stake in shares of BioSpecifics Technologies Corp. by 10.2% in the fourth quarter. Renaissance Technologies LLC now owns 332,746 shares of the biopharmaceutical company’s stock worth $18,534,000 after buying an additional 30,884 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in shares of BioSpecifics Technologies Corp. during the fourth quarter worth $1,658,000. Hedge funds and other institutional investors own 54.13% of the company’s stock.
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About BioSpecifics Technologies Corp.
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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