BioSpecifics Technologies (BSTC) Lowered to “Sell” at BidaskClub

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BioSpecifics Technologies (NASDAQ:BSTC) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday, BidAskClub reports.

Several other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of BioSpecifics Technologies from a “strong-buy” rating to a “sell” rating in a research report on Tuesday, May 21st. HC Wainwright set a $85.00 target price on shares of BioSpecifics Technologies and gave the stock a “buy” rating in a research report on Tuesday, March 19th.

BioSpecifics Technologies stock opened at $62.33 on Friday. The firm has a market cap of $453.64 million, a price-to-earnings ratio of 22.83 and a beta of 1.27. BioSpecifics Technologies has a one year low of $40.58 and a one year high of $73.31.

BioSpecifics Technologies (NASDAQ:BSTC) last posted its earnings results on Friday, May 10th. The biopharmaceutical company reported $0.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.02). The business had revenue of $8.13 million for the quarter, compared to analyst estimates of $8.10 million. BioSpecifics Technologies had a return on equity of 21.08% and a net margin of 59.99%. Equities analysts anticipate that BioSpecifics Technologies will post 3 EPS for the current fiscal year.

In other news, Director Paul Gitman sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $65.83, for a total value of $329,150.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jennifer M. Chao sold 4,000 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $63.72, for a total value of $254,880.00. Following the completion of the sale, the director now directly owns 3,313 shares in the company, valued at $211,104.36. The disclosure for this sale can be found here. Insiders have sold 14,500 shares of company stock worth $936,360 over the last three months. Company insiders own 21.40% of the company’s stock.

Large investors have recently modified their holdings of the company. Advantage Investment Management LLC acquired a new stake in shares of BioSpecifics Technologies in the first quarter valued at about $42,000. Great West Life Assurance Co. Can acquired a new stake in shares of BioSpecifics Technologies in the fourth quarter valued at about $54,000. Legal & General Group Plc grew its position in shares of BioSpecifics Technologies by 50.1% in the fourth quarter. Legal & General Group Plc now owns 1,211 shares of the biopharmaceutical company’s stock valued at $74,000 after purchasing an additional 404 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in shares of BioSpecifics Technologies by 60,150.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,205 shares of the biopharmaceutical company’s stock valued at $75,000 after purchasing an additional 1,203 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its position in shares of BioSpecifics Technologies by 356.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 2,100 shares of the biopharmaceutical company’s stock valued at $127,000 after purchasing an additional 1,640 shares during the last quarter. 57.86% of the stock is currently owned by institutional investors.

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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