BioSpecifics Technologies (NASDAQ:BSTC) Downgraded to “Strong Sell” at BidaskClub

BidaskClub downgraded shares of BioSpecifics Technologies (NASDAQ:BSTC) from a sell rating to a strong sell rating in a report published on Saturday, BidAskClub reports.

Other research analysts have also issued research reports about the company. ValuEngine lowered BioSpecifics Technologies from a hold rating to a sell rating in a research report on Thursday, August 1st. HC Wainwright reiterated a buy rating and issued a $90.00 price target (up from $85.00) on shares of BioSpecifics Technologies in a report on Monday, August 12th. Finally, Zacks Investment Research lowered BioSpecifics Technologies from a hold rating to a sell rating in a research note on Wednesday, August 14th.

BSTC stock opened at $55.69 on Friday. BioSpecifics Technologies has a 12 month low of $52.03 and a 12 month high of $73.31. The company has a 50-day moving average price of $57.07 and a 200 day moving average price of $62.15. The stock has a market cap of $393.20 million, a PE ratio of 20.40 and a beta of 1.17.

BioSpecifics Technologies (NASDAQ:BSTC) last posted its quarterly earnings data on Friday, August 9th. The biopharmaceutical company reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.15. The company had revenue of $8.85 million for the quarter, compared to analyst estimates of $8.98 million. BioSpecifics Technologies had a net margin of 63.06% and a return on equity of 21.97%. On average, equities research analysts predict that BioSpecifics Technologies will post 3.17 earnings per share for the current fiscal year.

In other news, Director Toby Wegman sold 1,100 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $55.23, for a total transaction of $60,753.00. Following the completion of the sale, the director now directly owns 1,890 shares of the company’s stock, valued at $104,384.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.39% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in BioSpecifics Technologies by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 289,243 shares of the biopharmaceutical company’s stock valued at $17,528,000 after buying an additional 8,132 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of BioSpecifics Technologies by 60,150.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,205 shares of the biopharmaceutical company’s stock worth $75,000 after buying an additional 1,203 shares in the last quarter. Eagle Asset Management Inc. increased its stake in shares of BioSpecifics Technologies by 0.5% during the first quarter. Eagle Asset Management Inc. now owns 66,097 shares of the biopharmaceutical company’s stock valued at $4,119,000 after buying an additional 329 shares during the period. Alps Advisors Inc. purchased a new position in shares of BioSpecifics Technologies during the first quarter valued at $362,000. Finally, Moors & Cabot Inc. purchased a new position in shares of BioSpecifics Technologies during the first quarter valued at $274,000. Hedge funds and other institutional investors own 59.21% of the company’s stock.

About BioSpecifics Technologies

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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