BioSpecifics Technologies (NASDAQ:BSTC) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, BidAskClub reports.

Other equities research analysts have also recently issued reports about the company. HC Wainwright restated a “buy” rating and set a $90.00 target price on shares of BioSpecifics Technologies in a research note on Wednesday, November 20th. ValuEngine upgraded BioSpecifics Technologies from a “sell” rating to a “hold” rating in a research note on Friday, October 4th. Finally, Zacks Investment Research cut BioSpecifics Technologies from a “buy” rating to a “hold” rating in a research note on Friday, October 25th.

Shares of BSTC stock opened at $59.23 on Thursday. The stock has a market cap of $434.84 million, a P/E ratio of 21.70 and a beta of 1.22. The stock has a 50 day simple moving average of $52.24 and a 200 day simple moving average of $56.01. BioSpecifics Technologies has a 1 year low of $45.81 and a 1 year high of $73.31.

BioSpecifics Technologies (NASDAQ:BSTC) last issued its quarterly earnings results on Friday, November 8th. The biopharmaceutical company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.10. The business had revenue of $9.44 million during the quarter, compared to analysts’ expectations of $8.86 million. BioSpecifics Technologies had a return on equity of 21.82% and a net margin of 64.23%. On average, equities research analysts predict that BioSpecifics Technologies will post 3.27 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aperio Group LLC lifted its stake in BioSpecifics Technologies by 14.5% during the second quarter. Aperio Group LLC now owns 4,496 shares of the biopharmaceutical company’s stock worth $269,000 after purchasing an additional 571 shares during the last quarter. AQR Capital Management LLC lifted its stake in BioSpecifics Technologies by 84.7% during the second quarter. AQR Capital Management LLC now owns 113,730 shares of the biopharmaceutical company’s stock worth $6,791,000 after purchasing an additional 52,147 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in BioSpecifics Technologies during the second quarter worth $525,000. Monarch Partners Asset Management LLC lifted its stake in BioSpecifics Technologies by 13.4% during the third quarter. Monarch Partners Asset Management LLC now owns 8,536 shares of the biopharmaceutical company’s stock worth $457,000 after purchasing an additional 1,010 shares during the last quarter. Finally, Wedge Capital Management L L P NC bought a new stake in BioSpecifics Technologies during the second quarter worth $1,634,000. Hedge funds and other institutional investors own 62.87% 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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