BioSpecifics Technologies (BSTC) Issues Earnings Results, Beats Estimates By $0.14 EPS
BioSpecifics Technologies (NASDAQ:BSTC) released its quarterly earnings results on Friday. The biopharmaceutical company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.14, MarketWatch Earnings reports. The firm had revenue of $8.17 million for the quarter, compared to the consensus estimate of $7.19 million. BioSpecifics Technologies had a return on equity of 19.59% and a net margin of 49.78%.
Shares of BSTC stock traded up $0.46 during midday trading on Friday, hitting $57.96. The company had a trading volume of 42,537 shares, compared to its average volume of 39,547. BioSpecifics Technologies has a 52-week low of $38.05 and a 52-week high of $66.21. The company has a market capitalization of $463.15 million, a P/E ratio of 34.09 and a beta of 1.48.
A number of research analysts recently issued reports on the company. HC Wainwright set a $72.00 price target on BioSpecifics Technologies and gave the stock a “buy” rating in a research note on Thursday, November 1st. BidaskClub downgraded BioSpecifics Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, September 22nd. Finally, Zacks Investment Research downgraded BioSpecifics Technologies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 10th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $69.33.
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About BioSpecifics Technologies
BioSpecifics Technologies Corp., a biopharmaceutical company, engages in the development of an injectable collagenase clostridium histolyticum for multiple 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 brand names.
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