HC Wainwright restated their buy rating on shares of BioSpecifics Technologies Corp. (NASDAQ:BSTC) in a research note released on Thursday. They currently have a $60.00 price target on the biopharmaceutical company’s stock.

Several other research firms also recently weighed in on BSTC. Zacks Investment Research raised BioSpecifics Technologies Corp. from a strong sell rating to a hold rating in a report on Tuesday, July 12th. Rodman & Renshaw reissued a buy rating on shares of BioSpecifics Technologies Corp. in a report on Monday, June 13th.

Shares of BioSpecifics Technologies Corp. (NASDAQ:BSTC) traded down 0.39% during midday trading on Thursday, reaching $45.54. 75,038 shares of the company traded hands. BioSpecifics Technologies Corp. has a 1-year low of $30.70 and a 1-year high of $63.20. The stock’s 50-day moving average is $40.57 and its 200-day moving average is $38.34. The stock has a market capitalization of $319.33 million, a P/E ratio of 30.58 and a beta of 1.17.

BioSpecifics Technologies Corp. (NASDAQ:BSTC) last announced its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.02. The firm earned $6.20 million during the quarter, compared to the consensus estimate of $6.25 million. BioSpecifics Technologies Corp. had a return on equity of 23.71% and a net margin of 43.42%. Equities analysts predict that BioSpecifics Technologies Corp. will post $1.53 EPS for the current fiscal year.

In related news, President Thomas Wegman sold 4,173 shares of the stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $38.08, for a total transaction of $158,907.84. Following the completion of the sale, the president now directly owns 191,722 shares of the company’s stock, valued at $7,300,773.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 23.19% of the company’s stock.

Large investors have recently modified their holdings of the company. Royce & Associates LP increased its stake in shares of BioSpecifics Technologies Corp. by 27.5% in the second quarter. Royce & Associates LP now owns 95,100 shares of the biopharmaceutical company’s stock valued at $3,798,000 after buying an additional 20,510 shares in the last quarter. Smith Asset Management Group LP increased its stake in shares of BioSpecifics Technologies Corp. by 2,374.4% in the second quarter. Smith Asset Management Group LP now owns 9,848 shares of the biopharmaceutical company’s stock valued at $393,000 after buying an additional 9,450 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of BioSpecifics Technologies Corp. during the second quarter valued at $2,905,000. PNC Financial Services Group Inc. increased its stake in shares of BioSpecifics Technologies Corp. by 61.9% in the second quarter. PNC Financial Services Group Inc. now owns 110,992 shares of the biopharmaceutical company’s stock valued at $4,431,000 after buying an additional 42,446 shares in the last quarter. Finally, SECOR Capital Advisors LP increased its stake in shares of BioSpecifics Technologies Corp. by 118.9% in the second quarter. SECOR Capital Advisors LP now owns 16,657 shares of the biopharmaceutical company’s stock valued at $665,000 after buying an additional 9,046 shares in the last quarter. 55.78% of the stock is owned by hedge funds and other institutional investors.

About BioSpecifics Technologies Corp.

BioSpecifics Technologies Corp. (BioSpecifics) is a biopharmaceutical company. The Company is engaged in the development of an injectable collagenase clostridium histolyticum (CCH) for multiple indications. The Company has a development and license agreement with Endo International plc (Endo) for injectable collagenases for marketed indications and indications in development.

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