BioSpecifics Technologies (NASDAQ:BSTC) Earns Buy Rating from HC Wainwright

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HC Wainwright reissued their buy rating on shares of BioSpecifics Technologies (NASDAQ:BSTC) in a report published on Monday, The Fly reports. They currently have a $90.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $85.00.

Other analysts have also issued research reports about the company. ValuEngine lowered BioSpecifics Technologies from a hold rating to a sell rating in a report on Thursday, August 1st. BidaskClub raised BioSpecifics Technologies from a sell rating to a hold rating in a research note on Tuesday, June 11th. Finally, Zacks Investment Research raised BioSpecifics Technologies from a sell rating to a hold rating in a research note on Monday, July 15th.

NASDAQ:BSTC opened at $57.09 on Monday. The firm’s 50-day moving average is $59.73. BioSpecifics Technologies has a 52-week low of $48.67 and a 52-week high of $73.31. The company has a market capitalization of $435.50 million, a price-to-earnings ratio of 20.91 and a beta of 1.21.

In other news, insider Patrick M. Caldwell sold 6,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $58.80, for a total value of $352,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark N. Wegman sold 7,800 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $61.09, for a total value of $476,502.00. Following the completion of the transaction, the director now directly owns 65,272 shares of the company’s stock, valued at approximately $3,987,466.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,583 shares of company stock valued at $1,980,178. Corporate insiders own 16.39% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BSTC. Advantage Investment Management LLC boosted its stake in BioSpecifics Technologies by 40.9% during the second quarter. Advantage Investment Management LLC now owns 957 shares of the biopharmaceutical company’s stock valued at $57,000 after buying an additional 278 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in 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 last quarter. Advisor Group Inc. boosted its stake in BioSpecifics Technologies by 94.2% during the second quarter. Advisor Group Inc. now owns 734 shares of the biopharmaceutical company’s stock valued at $44,000 after buying an additional 356 shares during the last quarter. Legal & General Group Plc boosted its stake in BioSpecifics Technologies by 50.1% during the fourth quarter. Legal & General Group Plc now owns 1,211 shares of the biopharmaceutical company’s stock valued at $74,000 after buying an additional 404 shares during the last quarter. Finally, Swiss National Bank boosted its stake in BioSpecifics Technologies by 5.2% during the second quarter. Swiss National Bank now owns 10,200 shares of the biopharmaceutical company’s stock valued at $609,000 after buying an additional 500 shares during the last quarter. 60.12% of the stock is owned by hedge funds and other institutional investors.

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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