BioSpecifics Technologies Corp (NASDAQ:BSTC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “BIOSPECIFICS TECHNOLOGIES is engaged in the business of producing and licensing, for sale by other, a U.S. Food and Drug Administration (FDA) approved enzyme derived from collagenase, named Collagenase ABC, and researching, developing and clinically testing additional products derived therefrom for potential use as pharmaceuticals. “

A number of other equities research analysts also recently issued reports on BSTC. BidaskClub downgraded shares of BioSpecifics Technologies Corp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. HC Wainwright set a $72.00 target price on shares of BioSpecifics Technologies Corp and gave the company a “buy” rating in a research note on Thursday, August 10th.

BioSpecifics Technologies Corp (NASDAQ:BSTC) traded down 0.10% during trading on Tuesday, hitting $47.97. 16,691 shares of the company traded hands. The company’s 50 day moving average is $46.89 and its 200-day moving average is $50.13. BioSpecifics Technologies Corp has a 52 week low of $41.00 and a 52 week high of $58.79. The stock has a market capitalization of $343.66 million, a PE ratio of 29.43 and a beta of 1.76.

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Several institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its stake in shares of BioSpecifics Technologies Corp by 9.1% in the second quarter. The Manufacturers Life Insurance Company now owns 4,920 shares of the biopharmaceutical company’s stock valued at $244,000 after acquiring an additional 410 shares during the period. State Street Corp raised its stake in shares of BioSpecifics Technologies Corp by 12.7% in the second quarter. State Street Corp now owns 100,361 shares of the biopharmaceutical company’s stock valued at $4,970,000 after acquiring an additional 11,271 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of BioSpecifics Technologies Corp by 94.3% in the second quarter. Goldman Sachs Group Inc. now owns 112,894 shares of the biopharmaceutical company’s stock valued at $5,589,000 after acquiring an additional 54,777 shares during the period. Stonepine Capital Management LLC purchased a new stake in shares of BioSpecifics Technologies Corp in the second quarter valued at $2,965,000. Finally, OxFORD Asset Management LLP raised its stake in shares of BioSpecifics Technologies Corp by 30.9% in the second quarter. OxFORD Asset Management LLP now owns 55,338 shares of the biopharmaceutical company’s stock valued at $2,740,000 after acquiring an additional 13,054 shares during the period. 55.95% of the stock is currently owned by institutional investors and hedge funds.

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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