BioSpecifics Technologies Corp (BSTC) Receives Average Recommendation of “Strong Buy” from Brokerages
Shares of BioSpecifics Technologies Corp (NASDAQ:BSTC) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Analysts have set a 1 year consensus target price of $65.00 for the company and are expecting that the company will post $0.39 earnings per share for the current quarter, according to Zacks. Zacks has also given BioSpecifics Technologies an industry rank of 106 out of 265 based on the ratings given to related companies.
Several analysts have recently weighed in on the company. cut their price objective on BioSpecifics Technologies from $72.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 15th. HC Wainwright restated a “buy” rating and issued a $65.00 price objective (down previously from $72.00) on shares of BioSpecifics Technologies in a report on Monday, November 13th. Zacks Investment Research upgraded BioSpecifics Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. Finally, BidaskClub lowered BioSpecifics Technologies from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th.
BioSpecifics Technologies (NASDAQ:BSTC) last announced its quarterly earnings data on Friday, November 10th. The biopharmaceutical company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The business had revenue of $6.52 million during the quarter, compared to analyst estimates of $6.59 million. BioSpecifics Technologies had a return on equity of 19.11% and a net margin of 42.40%. research analysts expect that BioSpecifics Technologies will post 1.57 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in BSTC. Bank of America Corp DE lifted its holdings in shares of BioSpecifics Technologies by 122.6% in the first quarter. Bank of America Corp DE now owns 2,489 shares of the biopharmaceutical company’s stock valued at $137,000 after buying an additional 1,371 shares during the period. US Bancorp DE raised its position in shares of BioSpecifics Technologies by 1.1% during the second quarter. US Bancorp DE now owns 3,455 shares of the biopharmaceutical company’s stock worth $171,000 after purchasing an additional 36 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of BioSpecifics Technologies by 16.2% during the first quarter. Public Employees Retirement System of Ohio now owns 3,674 shares of the biopharmaceutical company’s stock worth $201,000 after purchasing an additional 513 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of BioSpecifics Technologies during the third quarter worth $223,000. Finally, SG Americas Securities LLC acquired a new stake in shares of BioSpecifics Technologies during the second quarter worth $241,000. Institutional investors and hedge funds own 55.18% of the company’s stock.
BioSpecifics Technologies 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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