BioSpecifics Technologies Corp. (NASDAQ:BSTC) was the recipient of a significant decline in short interest during the month of August. As of August 15th, there was short interest totalling 238,900 shares, a decline of 11.3% from the July 15th total of 269,400 shares. Based on an average daily trading volume, of 69,500 shares, the days-to-cover ratio is presently 3.4 days. Approximately 4.5% of the shares of the company are short sold.
NASDAQ:BSTC opened at $56.08 on Friday. BioSpecifics Technologies has a one year low of $49.35 and a one year high of $73.31. The firm has a market cap of $411.07 million, a price-to-earnings ratio of 20.54 and a beta of 1.21. The firm’s fifty day moving average is $58.89 and its two-hundred day moving average is $63.06.
BioSpecifics Technologies (NASDAQ:BSTC) last issued its quarterly earnings data on Friday, August 9th. The biopharmaceutical company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.15. The business had revenue of $8.85 million during the quarter, compared to the consensus estimate of $8.98 million. BioSpecifics Technologies had a net margin of 63.06% and a return on equity of 21.97%. On average, research analysts predict that BioSpecifics Technologies will post 3.17 EPS for the current year.
In other BioSpecifics Technologies news, Director Jennifer M. Chao sold 459 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $58.55, for a total value of $26,874.45. Following the sale, the director now directly owns 30 shares of the company’s stock, valued at $1,756.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Patrick M. Caldwell sold 6,000 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $58.80, for a total transaction of $352,800.00. The disclosure for this sale can be found here. Insiders have sold 11,970 shares of company stock worth $695,234 over the last three months. Corporate insiders own 16.39% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Nuveen Asset Management LLC purchased a new position in shares of BioSpecifics Technologies during the 2nd quarter worth approximately $4,256,000. Citadel Advisors LLC boosted its position in shares of BioSpecifics Technologies by 82.5% during the 2nd quarter. Citadel Advisors LLC now owns 21,459 shares of the biopharmaceutical company’s stock worth $1,281,000 after purchasing an additional 9,701 shares during the period. D. E. Shaw & Co. Inc. boosted its position in shares of BioSpecifics Technologies by 96.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 6,769 shares of the biopharmaceutical company’s stock worth $404,000 after purchasing an additional 3,319 shares during the period. Alberta Investment Management Corp purchased a new position in shares of BioSpecifics Technologies during the 2nd quarter worth approximately $293,000. Finally, AQR Capital Management LLC boosted its position in shares of BioSpecifics Technologies by 84.7% during the 2nd 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 period. Institutional investors and hedge funds own 56.51% of the company’s stock.
Several equities research analysts have commented on BSTC shares. BidaskClub lowered shares of BioSpecifics Technologies from a “hold” rating to a “sell” rating in a report on Saturday, August 24th. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price target (up from $85.00) on shares of BioSpecifics Technologies in a report on Monday, August 12th. ValuEngine lowered shares of BioSpecifics Technologies from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research lowered shares of BioSpecifics Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th.
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.
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