BidaskClub Lowers BioSpecifics Technologies (NASDAQ:BSTC) to Strong Sell

BioSpecifics Technologies (NASDAQ:BSTC) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Thursday, October 17th, BidAskClub reports.

A number of other research firms have also recently issued reports on BSTC. HC Wainwright set a $90.00 target price on shares of BioSpecifics Technologies and gave the company a “buy” rating in a research note on Friday, October 11th. Zacks Investment Research cut shares of BioSpecifics Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. Finally, ValuEngine upgraded shares of BioSpecifics Technologies from a “sell” rating to a “hold” rating in a research note on Friday, October 4th.

BSTC traded up $0.44 during midday trading on Thursday, hitting $50.65. 79,300 shares of the company were exchanged, compared to its average volume of 56,028. The firm has a market capitalization of $365.71 million, a price-to-earnings ratio of 18.55 and a beta of 1.16. The company’s 50 day simple moving average is $51.16 and its 200 day simple moving average is $57.82. BioSpecifics Technologies has a 1-year low of $45.81 and a 1-year high of $73.31.

BioSpecifics Technologies (NASDAQ:BSTC) last posted its earnings results on Friday, November 8th. The biopharmaceutical company reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.10. The firm had revenue of $9.44 million during the quarter, compared to analysts’ expectations of $8.86 million. BioSpecifics Technologies had a net margin of 63.06% and a return on equity of 21.97%. On average, research analysts anticipate that BioSpecifics Technologies will post 3.17 EPS for the current fiscal year.

In other news, Director Toby Wegman sold 1,100 shares of BioSpecifics Technologies stock in a transaction that occurred 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 transaction, the director now owns 1,890 shares of the company’s stock, valued at $104,384.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 16.39% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its position in shares of BioSpecifics Technologies by 140.1% in the third quarter. Tower Research Capital LLC TRC now owns 485 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 283 shares during the period. Advisor Group Inc. increased its position in BioSpecifics Technologies by 94.2% during the second quarter. Advisor Group Inc. now owns 734 shares of the biopharmaceutical company’s stock worth $44,000 after acquiring an additional 356 shares during the period. Advantage Investment Management LLC increased its position in BioSpecifics Technologies by 40.9% during the second quarter. Advantage Investment Management LLC now owns 957 shares of the biopharmaceutical company’s stock worth $57,000 after acquiring an additional 278 shares during the period. Meeder Asset Management Inc. increased its position in BioSpecifics Technologies by 10.0% during the third quarter. Meeder Asset Management Inc. now owns 2,274 shares of the biopharmaceutical company’s stock worth $122,000 after acquiring an additional 206 shares during the period. Finally, Shaker Investments LLC OH bought a new position in BioSpecifics Technologies during the second quarter worth $205,000. 58.84% of the stock is currently owned by institutional investors.

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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