BioSpecifics Technologies Corp (NASDAQ:BSTC) Given Average Recommendation of “Strong Buy” by Brokerages
BioSpecifics Technologies Corp (NASDAQ:BSTC) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.
Brokers have set a 12-month consensus target price of $72.00 for the company and are forecasting that the company will post $0.39 earnings per share for the current quarter, according to Zacks. Zacks has also given BioSpecifics Technologies Corp an industry rank of 123 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research lowered BioSpecifics Technologies Corp from a “hold” rating to a “sell” rating in a research report on Monday, May 15th.
BioSpecifics Technologies Corp (NASDAQ:BSTC) traded up 1.873% during mid-day trading on Friday, reaching $53.025. 5,614 shares of the company’s stock were exchanged. BioSpecifics Technologies Corp has a 52 week low of $35.79 and a 52 week high of $58.79. The company has a market capitalization of $380.24 million, a P/E ratio of 32.531 and a beta of 1.76. The company’s 50 day moving average price is $49.99 and its 200-day moving average price is $52.48.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wedge Capital Management L L P NC acquired a new stake in shares of BioSpecifics Technologies Corp during the first quarter valued at about $2,093,000. Alliancebernstein L.P. increased its stake in 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. Russell Investments Group Ltd. purchased a new stake in BioSpecifics Technologies Corp during the fourth quarter worth $1,658,000. Dimensional Fund Advisors LP increased its stake in BioSpecifics Technologies Corp by 15.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 229,340 shares of the biopharmaceutical company’s stock worth $12,774,000 after buying an additional 30,210 shares during the period. Finally, Renaissance Technologies LLC increased its stake in BioSpecifics Technologies Corp by 6.0% in the first quarter. Renaissance Technologies LLC now owns 352,627 shares of the biopharmaceutical company’s stock worth $19,324,000 after buying an additional 19,881 shares during the period. 55.74% of the stock is owned by institutional investors and hedge funds.
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BioSpecifics Technologies Corp Company Profile
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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