BioSpecifics Technologies (NASDAQ:BSTC) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright restated their buy rating on shares of BioSpecifics Technologies (NASDAQ:BSTC) in a research report released on Monday morning, The Fly reports. The brokerage currently has a $90.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $85.00.

BSTC has been the subject of several other reports. Zacks Investment Research raised BioSpecifics Technologies from a sell rating to a hold rating in a research note on Monday, July 15th. BidaskClub raised BioSpecifics Technologies from a sell rating to a hold rating in a research note on Tuesday, June 11th. Finally, ValuEngine downgraded BioSpecifics Technologies from a hold rating to a sell rating in a research note on Thursday, August 1st.

Shares of BioSpecifics Technologies stock opened at $57.37 on Monday. The stock has a 50-day moving average price of $59.72 and a 200 day moving average price of $63.64. The company has a market cap of $436.08 million, a P/E ratio of 19.83 and a beta of 1.21. BioSpecifics Technologies has a 1 year low of $48.67 and a 1 year high of $73.31.

In other BioSpecifics Technologies news, Director Toby Wegman sold 5,500 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $64.06, for a total value of $352,330.00. Following the transaction, the director now directly owns 74,272 shares of the company’s stock, valued at approximately $4,757,864.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jennifer M. Chao sold 459 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $58.55, for a total value of $26,874.45. Following the completion of the transaction, the director now directly owns 30 shares in the company, valued at $1,756.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,583 shares of company stock valued at $1,725,298. Company insiders own 16.39% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Advisor Group Inc. increased its position in BioSpecifics Technologies by 94.2% in the 2nd quarter. Advisor Group Inc. now owns 734 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 356 shares during the last quarter. Advantage Investment Management LLC increased its position in BioSpecifics Technologies by 40.9% in the 2nd quarter. Advantage Investment Management LLC now owns 957 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 278 shares during the last quarter. Legal & General Group Plc increased its position in BioSpecifics Technologies by 50.1% in the 4th quarter. Legal & General Group Plc now owns 1,211 shares of the biopharmaceutical company’s stock worth $74,000 after purchasing an additional 404 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in BioSpecifics Technologies by 60,150.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,205 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 1,203 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its position in BioSpecifics Technologies by 356.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 2,100 shares of the biopharmaceutical company’s stock worth $127,000 after purchasing an additional 1,640 shares during the last quarter. 60.12% 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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