BioSpecifics Technologies (NASDAQ:BSTC) Cut to Strong Sell at BidaskClub
Several other brokerages have also recently issued reports on BSTC. Zacks Investment Research cut BioSpecifics Technologies from a hold rating to a sell rating in a research note on Wednesday, August 14th. HC Wainwright reiterated a buy rating and issued a $90.00 target price (up previously from $85.00) on shares of BioSpecifics Technologies in a research report on Monday, August 12th. Finally, ValuEngine downgraded shares of BioSpecifics Technologies from a hold rating to a sell rating in a report on Thursday, August 1st.
Shares of BSTC stock opened at $55.69 on Friday. The firm has a market capitalization of $393.20 million, a price-to-earnings ratio of 20.40 and a beta of 1.17. The business has a fifty day moving average of $57.07 and a 200 day moving average of $62.15. BioSpecifics Technologies has a 1 year low of $52.03 and a 1 year high of $73.31.
In other news, Director Toby Wegman sold 1,100 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $55.23, for a total value of $60,753.00. Following the sale, the director now owns 1,890 shares in the company, valued at $104,384.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.39% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of BSTC. Globeflex Capital L P raised its stake in shares of BioSpecifics Technologies by 17.3% during the 1st quarter. Globeflex Capital L P now owns 6,802 shares of the biopharmaceutical company’s stock valued at $424,000 after buying an additional 1,002 shares during the last quarter. Moors & Cabot Inc. purchased a new stake in BioSpecifics Technologies during the first quarter worth $274,000. Municipal Employees Retirement System of Michigan acquired a new stake in BioSpecifics Technologies during the second quarter valued at $525,000. Wedge Capital Management L L P NC acquired a new stake in BioSpecifics Technologies during the second quarter valued at $1,634,000. Finally, California Public Employees Retirement System grew its position in BioSpecifics Technologies by 25.1% during the first quarter. California Public Employees Retirement System now owns 22,704 shares of the biopharmaceutical company’s stock valued at $1,415,000 after buying an additional 4,551 shares during the period. Institutional investors own 59.21% of the company’s stock.
BioSpecifics Technologies Company Profile
BioSpecifics Technologies Corp., a biopharmaceutical company, engages in the development of an injectable collagenase clostridium histolyticum for various 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 brands.
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