Monarch Partners Asset Management LLC Acquires 1,010 Shares of BioSpecifics Technologies Corp. (NASDAQ:BSTC)

Monarch Partners Asset Management LLC increased its holdings in BioSpecifics Technologies Corp. (NASDAQ:BSTC) by 13.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,536 shares of the biopharmaceutical company’s stock after purchasing an additional 1,010 shares during the period. Monarch Partners Asset Management LLC’s holdings in BioSpecifics Technologies were worth $457,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. increased its position in BioSpecifics Technologies by 5.7% during the second quarter. BlackRock Inc. now owns 428,545 shares of the biopharmaceutical company’s stock valued at $25,589,000 after acquiring an additional 23,007 shares during the last quarter. Rice Hall James & Associates LLC increased its position in BioSpecifics Technologies by 12.2% during the second quarter. Rice Hall James & Associates LLC now owns 354,455 shares of the biopharmaceutical company’s stock valued at $21,165,000 after acquiring an additional 38,483 shares during the last quarter. Vanguard Group Inc. increased its position in BioSpecifics Technologies by 0.5% during the second quarter. Vanguard Group Inc. now owns 277,233 shares of the biopharmaceutical company’s stock valued at $16,554,000 after acquiring an additional 1,320 shares during the last quarter. Allianz Asset Management GmbH increased its position in BioSpecifics Technologies by 59.1% during the second quarter. Allianz Asset Management GmbH now owns 114,034 shares of the biopharmaceutical company’s stock valued at $6,809,000 after acquiring an additional 42,342 shares during the last quarter. Finally, AQR Capital Management LLC increased its position 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 valued at $6,791,000 after acquiring an additional 52,147 shares during the last quarter. Institutional investors own 58.84% of the company’s stock.

In other BioSpecifics Technologies news, Director Toby Wegman sold 1,100 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $55.23, for a total transaction of $60,753.00. Following the completion of the sale, the director now directly 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 accessible through this link. Corporate insiders own 16.39% of the company’s stock.

Shares of NASDAQ BSTC traded up $0.44 during mid-day trading on Friday, reaching $50.65. The company had a trading volume of 79,300 shares, compared to its average volume of 56,028. The stock has a market cap of $365.71 million, a price-to-earnings ratio of 18.55 and a beta of 1.16. The business’s 50-day moving average is $51.16 and its 200-day moving average is $57.82. BioSpecifics Technologies Corp. has a 52 week low of $45.81 and a 52 week high of $73.31.

BioSpecifics Technologies (NASDAQ:BSTC) last released its quarterly earnings results on Friday, November 8th. The biopharmaceutical company reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.10. The business had revenue of $9.44 million during the quarter, compared to analyst estimates of $8.86 million. BioSpecifics Technologies had a net margin of 63.06% and a return on equity of 21.97%. As a group, sell-side analysts predict that BioSpecifics Technologies Corp. will post 3.17 earnings per share for the current year.

A number of research analysts have weighed in on the stock. Zacks Investment Research cut shares of BioSpecifics Technologies from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. HC Wainwright set a $90.00 price objective on shares of BioSpecifics Technologies and gave the company a “buy” rating in a research report on Friday, October 11th. BidaskClub cut shares of BioSpecifics Technologies from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 17th. Finally, ValuEngine upgraded shares of BioSpecifics Technologies from a “sell” rating to a “hold” rating in a research report on Friday, October 4th.

About BioSpecifics Technologies

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.

Further Reading: Investing in Dividend Stocks

Want to see what other hedge funds are holding BSTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BioSpecifics Technologies Corp. (NASDAQ:BSTC).

Institutional Ownership by Quarter for BioSpecifics Technologies (NASDAQ:BSTC)

Receive News & Ratings for BioSpecifics Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioSpecifics Technologies and related companies with MarketBeat.com's FREE daily email newsletter.