Zacks Investment Research cut shares of BioSpecifics Technologies Corp. (NASDAQ:BSTC) from a strong-buy rating to a hold rating in a report issued on Tuesday morning.

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. “

A number of other brokerages have also commented on BSTC. HC Wainwright reissued a buy rating and set a $60.00 price objective on shares of BioSpecifics Technologies Corp. in a report on Thursday, October 6th. Rodman & Renshaw restated a buy rating on shares of BioSpecifics Technologies Corp. in a research note on Monday, June 13th.

Shares of BioSpecifics Technologies Corp. (NASDAQ:BSTC) traded down 0.31% on Tuesday, reaching $45.03. The company had a trading volume of 28,062 shares. BioSpecifics Technologies Corp. has a 12 month low of $30.70 and a 12 month high of $63.20. The stock has a 50-day moving average price of $41.31 and a 200-day moving average price of $38.65. The stock has a market cap of $315.75 million, a PE ratio of 30.24 and a beta of 1.17.

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

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

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in BioSpecifics Technologies Corp. by 1.9% in the second quarter. Vanguard Group Inc. now owns 197,777 shares of the biopharmaceutical company’s stock valued at $7,899,000 after buying an additional 3,638 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of BioSpecifics Technologies Corp. by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 178,251 shares of the biopharmaceutical company’s stock worth $7,119,000 after buying an additional 1,722 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of BioSpecifics Technologies Corp. by 9.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 143,214 shares of the biopharmaceutical company’s stock worth $5,720,000 after buying an additional 12,600 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of BioSpecifics Technologies Corp. by 9.3% in the second quarter. BlackRock Fund Advisors now owns 139,760 shares of the biopharmaceutical company’s stock worth $5,582,000 after buying an additional 11,935 shares during the last quarter. Finally, Elk Creek Partners LLC boosted its stake in shares of BioSpecifics Technologies Corp. by 8.7% in the second quarter. Elk Creek Partners LLC now owns 131,147 shares of the biopharmaceutical company’s stock worth $2,658,000 after buying an additional 10,454 shares during the last quarter. Institutional investors and hedge funds own 55.78% of the company’s stock.

BioSpecifics Technologies Corp. Company Profile

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.

5 Day Chart for NASDAQ:BSTC

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