Insider Selling: BioSpecifics Technologies Corp. (BSTC) Director Sells 1,000 Shares of Stock

BioSpecifics Technologies Corp. (NASDAQ:BSTC) Director Paul Gitman sold 1,000 shares of BioSpecifics Technologies stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $57.64, for a total value of $57,640.00. Following the completion of the sale, the director now directly owns 20,000 shares in the company, valued at approximately $1,152,800. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Paul Gitman also recently made the following trade(s):

  • On Monday, August 27th, Paul Gitman sold 10,000 shares of BioSpecifics Technologies stock. The shares were sold at an average price of $50.11, for a total value of $501,100.00.
  • On Wednesday, August 29th, Paul Gitman sold 19,000 shares of BioSpecifics Technologies stock. The shares were sold at an average price of $49.72, for a total value of $944,680.00.

Shares of BSTC stock traded up $3.45 during midday trading on Friday, reaching $57.98. 79,600 shares of the company traded hands, compared to its average volume of 26,061. BioSpecifics Technologies Corp. has a 1-year low of $38.05 and a 1-year high of $58.29. The company has a market cap of $396.92 million, a price-to-earnings ratio of 32.90 and a beta of 1.64.

BioSpecifics Technologies (NASDAQ:BSTC) last posted its quarterly earnings results on Thursday, August 9th. The biopharmaceutical company reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.10. BioSpecifics Technologies had a net margin of 49.78% and a return on equity of 19.59%. The company had revenue of $7.10 million during the quarter, compared to the consensus estimate of $7.10 million. equities research analysts expect that BioSpecifics Technologies Corp. will post 2.28 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the company. MetLife Investment Advisors LLC acquired a new stake in shares of BioSpecifics Technologies during the 4th quarter valued at approximately $132,000. Bank of America Corp DE lifted its position in shares of BioSpecifics Technologies by 466.7% during the 2nd quarter. Bank of America Corp DE now owns 4,086 shares of the biopharmaceutical company’s stock valued at $183,000 after acquiring an additional 3,365 shares during the period. Summit Trail Advisors LLC lifted its position in shares of BioSpecifics Technologies by 3,339.8% during the 1st quarter. Summit Trail Advisors LLC now owns 233,802 shares of the biopharmaceutical company’s stock valued at $234,000 after acquiring an additional 227,005 shares during the period. Citadel Advisors LLC acquired a new stake in shares of BioSpecifics Technologies during the 2nd quarter valued at approximately $264,000. Finally, GSA Capital Partners LLP lifted its position in shares of BioSpecifics Technologies by 89.7% during the 2nd quarter. GSA Capital Partners LLP now owns 9,500 shares of the biopharmaceutical company’s stock valued at $426,000 after acquiring an additional 4,491 shares during the period. Institutional investors own 57.92% of the company’s stock.

A number of equities research analysts have weighed in on BSTC shares. BidaskClub raised BioSpecifics Technologies from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 15th. Zacks Investment Research lowered BioSpecifics Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, July 10th. ValuEngine raised BioSpecifics Technologies from a “sell” rating to a “hold” rating in a report on Thursday, July 5th. Finally, HC Wainwright set a $65.00 price objective on BioSpecifics Technologies and gave the company a “buy” rating in a report on Friday, August 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. BioSpecifics Technologies presently has a consensus rating of “Buy” and an average target price of $64.00.

About BioSpecifics Technologies

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.

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