BioSpecifics Technologies (NASDAQ:BSTC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.
According to Zacks, “BIOSPECIFICS TECHNOLOGIES is engaged in the business of producing and licensing, for sale by other, a U.S. Food and Drug Administration (FDA) approved enzyme derived from collagenase, named Collagenase ABC, and researching, developing and clinically testing additional products derived therefrom for potential use as pharmaceuticals. “
Several other research firms also recently commented on BSTC. HC Wainwright reiterated a “buy” rating on shares of BioSpecifics Technologies in a research note on Monday, January 1st. dropped their price objective on BioSpecifics Technologies from $72.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 15th.
Shares of BioSpecifics Technologies (BSTC) traded up $0.73 during midday trading on Friday, hitting $43.32. The stock had a trading volume of 32,500 shares, compared to its average volume of 27,237. BioSpecifics Technologies has a 12-month low of $41.95 and a 12-month high of $58.79. The stock has a market cap of $310.35, a P/E ratio of 27.25 and a beta of 1.59.
BioSpecifics Technologies (NASDAQ:BSTC) last announced its earnings results on Friday, November 10th. The biopharmaceutical company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. BioSpecifics Technologies had a return on equity of 19.11% and a net margin of 42.40%. The firm had revenue of $6.52 million for the quarter, compared to the consensus estimate of $6.59 million. research analysts anticipate that BioSpecifics Technologies will post 1.57 earnings per share for the current year.
Institutional investors have recently bought and sold shares of the stock. Los Angeles Capital Management & Equity Research Inc. purchased a new position in BioSpecifics Technologies in the third quarter valued at approximately $223,000. SG Americas Securities LLC purchased a new position in BioSpecifics Technologies in the second quarter valued at approximately $241,000. The Manufacturers Life Insurance Company lifted its stake in BioSpecifics Technologies by 9.1% in the second quarter. The Manufacturers Life Insurance Company now owns 4,920 shares of the biopharmaceutical company’s stock valued at $244,000 after purchasing an additional 410 shares during the last quarter. Rhumbline Advisers lifted its stake in BioSpecifics Technologies by 7.5% in the second quarter. Rhumbline Advisers now owns 6,667 shares of the biopharmaceutical company’s stock valued at $330,000 after purchasing an additional 466 shares during the last quarter. Finally, Teachers Advisors LLC lifted its stake in BioSpecifics Technologies by 14.8% in the second quarter. Teachers Advisors LLC now owns 10,098 shares of the biopharmaceutical company’s stock valued at $500,000 after purchasing an additional 1,305 shares during the last quarter. Institutional investors and hedge funds own 55.93% of the company’s stock.
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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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