Wells Fargo & Company MN trimmed its position in shares of BioSpecifics Technologies Corp. (NASDAQ:BSTC) by 14.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,027 shares of the biopharmaceutical company’s stock after selling 22,471 shares during the period. Wells Fargo & Company MN owned approximately 1.77% of BioSpecifics Technologies worth $7,356,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can acquired a new position in shares of BioSpecifics Technologies during the fourth quarter valued at about $28,000. Benjamin F. Edwards & Company Inc. raised its position in shares of BioSpecifics Technologies by 92.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 666 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 320 shares during the last quarter. Citigroup Inc. raised its position in shares of BioSpecifics Technologies by 65.0% during the fourth quarter. Citigroup Inc. now owns 1,325 shares of the biopharmaceutical company’s stock valued at $75,000 after buying an additional 522 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of BioSpecifics Technologies by 105.7% during the first quarter. BNP Paribas Arbitrage SA now owns 1,907 shares of the biopharmaceutical company’s stock valued at $108,000 after buying an additional 980 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of BioSpecifics Technologies during the first quarter valued at about $124,000. Institutional investors own 63.09% of the company’s stock.
Shares of BioSpecifics Technologies stock opened at $58.98 on Tuesday. The stock has a market capitalization of $429.30 million, a price-to-earnings ratio of 16.77 and a beta of 0.87. BioSpecifics Technologies Corp. has a 1-year low of $42.00 and a 1-year high of $66.51. The firm’s 50-day moving average price is $59.76 and its two-hundred day moving average price is $57.58.
BioSpecifics Technologies (NASDAQ:BSTC) last issued its quarterly earnings data on Monday, May 11th. The biopharmaceutical company reported $0.73 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.03). BioSpecifics Technologies had a return on equity of 21.37% and a net margin of 61.80%. The firm had revenue of $9.67 million for the quarter, compared to the consensus estimate of $9.20 million. As a group, equities analysts expect that BioSpecifics Technologies Corp. will post 2.21 EPS for the current fiscal year.
A number of brokerages have recently commented on BSTC. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price objective on shares of BioSpecifics Technologies in a research report on Tuesday, June 16th. ValuEngine lowered shares of BioSpecifics Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, April 1st. Zacks Investment Research lowered shares of BioSpecifics Technologies from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, May 15th. Finally, BidaskClub lowered shares of BioSpecifics Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, June 3rd.
BioSpecifics Technologies Company Profile
BioSpecifics Technologies Corp., a biopharmaceutical company, engages in the development of an injectable collagenase clostridium histolyticum for various 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 brands.
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