BioSpecifics Technologies (BSTC) Releases Quarterly Earnings Results, Beats Estimates By $0.14 EPS

BioSpecifics Technologies (NASDAQ:BSTC) posted its quarterly earnings results on Friday. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.14, MarketWatch Earnings reports. The firm had revenue of $8.17 million during the quarter, compared to analyst estimates of $7.19 million. BioSpecifics Technologies had a return on equity of 19.59% and a net margin of 49.78%.

Shares of BSTC traded up $0.46 during trading hours on Friday, hitting $57.96. The company had a trading volume of 42,537 shares, compared to its average volume of 39,547. The firm has a market cap of $463.15 million, a PE ratio of 34.09 and a beta of 1.48. BioSpecifics Technologies has a 52-week low of $38.05 and a 52-week high of $66.21.

Several equities analysts have recently issued reports on BSTC shares. BidaskClub raised BioSpecifics Technologies from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 15th. Zacks Investment Research raised BioSpecifics Technologies from a “hold” rating to a “strong-buy” rating and set a $62.00 price target for the company in a research report on Tuesday, August 14th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $81.00 price target on shares of BioSpecifics Technologies in a research report on Thursday. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $69.33.

In related news, Director Mark N. Wegman sold 8,500 shares of BioSpecifics Technologies stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $52.63, for a total value of $447,355.00. Following the completion of the sale, the director now directly owns 76,470 shares in the company, valued at approximately $4,024,616.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Of Edwin H. Wegman Estate sold 10,000 shares of BioSpecifics Technologies stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $48.08, for a total value of $480,800.00. Following the completion of the sale, the insider now owns 1,005,128 shares of the company’s stock, valued at $48,326,554.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 177,952 shares of company stock valued at $8,128,384. 21.40% of the stock is owned by insiders.

TRADEMARK VIOLATION NOTICE: “BioSpecifics Technologies (BSTC) Releases Quarterly Earnings Results, Beats Estimates By $0.14 EPS” was first reported by American Banking News and is the sole property of of American Banking News. If you are reading this report on another website, it was copied illegally and reposted in violation of US & international trademark & copyright laws. The correct version of this report can be read at https://www.americanbankingnews.com/2018/11/10/biospecifics-technologies-bstc-releases-quarterly-earnings-results-beats-estimates-by-0-14-eps.html.

BioSpecifics Technologies Company Profile

BioSpecifics Technologies Corp., a biopharmaceutical company, engages in the development of an injectable collagenase clostridium histolyticum for multiple indications in the United States and internationally. The company offers injectable collagenase for the treatment of Dupuytren's contracture and Peyronie's disease under the XIAFLEX or Xiapex brand names.

See Also: What does earnings per share mean?

Earnings History for BioSpecifics Technologies (NASDAQ:BSTC)

Receive News & Ratings for BioSpecifics Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioSpecifics Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply