BioSpecifics Technologies Corp (NASDAQ:BSTC) has been assigned a $72.00 price target by investment analysts at HC Wainwright in a research note issued on Thursday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective would indicate a potential upside of 49.38% from the company’s current price.

The analysts wrote, “We have adjusted our revenue projection for BSTC accordingly, and our current 2017 revenue projection is $28.0M vs. the prior $29.6M, suggesting 7% YoY growth, while our 2018 revenue estimate is now $29.4M vs. the prior $32M.””

A number of other equities analysts have also recently weighed in on BSTC. BidaskClub cut BioSpecifics Technologies Corp from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Zacks Investment Research cut BioSpecifics Technologies Corp from a “buy” rating to a “hold” rating in a report on Friday, April 21st.

BioSpecifics Technologies Corp (NASDAQ:BSTC) opened at 48.20 on Thursday. The company has a 50-day moving average price of $49.81 and a 200 day moving average price of $51.97. The firm has a market capitalization of $345.64 million, a P/E ratio of 29.57 and a beta of 1.76. BioSpecifics Technologies Corp has a 1-year low of $35.79 and a 1-year high of $58.79.

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Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its position in BioSpecifics Technologies Corp by 122.6% in the first quarter. Bank of America Corp DE now owns 2,489 shares of the biopharmaceutical company’s stock worth $137,000 after buying an additional 1,371 shares during the period. American International Group Inc. boosted its position in BioSpecifics Technologies Corp by 7.1% in the first quarter. American International Group Inc. now owns 3,327 shares of the biopharmaceutical company’s stock worth $182,000 after buying an additional 222 shares during the period. US Bancorp DE boosted its position in BioSpecifics Technologies Corp by 1.1% in the second quarter. US Bancorp DE now owns 3,455 shares of the biopharmaceutical company’s stock worth $171,000 after buying an additional 36 shares during the period. Public Employees Retirement System of Ohio boosted its position in BioSpecifics Technologies Corp by 16.2% in the first quarter. Public Employees Retirement System of Ohio now owns 3,674 shares of the biopharmaceutical company’s stock worth $201,000 after buying an additional 513 shares during the period. Finally, CAPROCK Group Inc. bought a new position in BioSpecifics Technologies Corp during the second quarter worth $206,000. 54.97% of the stock is owned by institutional investors.

BioSpecifics Technologies Corp Company Profile

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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