Zacks Investment Research cut shares of BioSpecifics Technologies Corp (NASDAQ:BSTC) from a hold rating to a sell rating in a research note issued to investors on Monday, May 15th.

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. “

BioSpecifics Technologies Corp (BSTC) traded down 0.08% on Monday, hitting $48.15. The stock had a trading volume of 65,672 shares. BioSpecifics Technologies Corp has a one year low of $35.59 and a one year high of $58.79. The firm has a market cap of $345.28 million, a price-to-earnings ratio of 29.54 and a beta of 1.77. The company’s 50-day moving average price is $52.57 and its 200 day moving average price is $52.76.

BioSpecifics Technologies Corp (NASDAQ:BSTC) last released its quarterly earnings data on Wednesday, March 15th. The biopharmaceutical company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The business had revenue of $6.62 million during the quarter, compared to the consensus estimate of $6.76 million. BioSpecifics Technologies Corp had a return on equity of 21.70% and a net margin of 43.43%. Analysts expect that BioSpecifics Technologies Corp will post $1.73 earnings per share for the current year.

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A number of hedge funds have recently made changes to their positions in the company. Isthmus Partners LLC boosted its stake in shares of BioSpecifics Technologies Corp by 2.0% in the third quarter. Isthmus Partners LLC now owns 17,741 shares of the biopharmaceutical company’s stock worth $782,000 after buying an additional 346 shares during the period. US Bancorp DE boosted its stake in shares of BioSpecifics Technologies Corp by 14.7% in the third quarter. US Bancorp DE now owns 3,470 shares of the biopharmaceutical company’s stock worth $158,000 after buying an additional 445 shares during the period. BlackRock Advisors LLC boosted its stake in shares of BioSpecifics Technologies Corp by 1.3% in the third quarter. BlackRock Advisors LLC now owns 26,070 shares of the biopharmaceutical company’s stock worth $1,191,000 after buying an additional 332 shares during the period. Two Sigma Securities LLC acquired a new stake in shares of BioSpecifics Technologies Corp during the third quarter worth $209,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of BioSpecifics Technologies Corp during the fourth quarter worth $1,658,000. 55.74% of the stock is owned by hedge funds and other institutional investors.

About BioSpecifics Technologies Corp

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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