BioSpecifics Technologies Corp. (NASDAQ:BSTC) insider Thomas Wegman sold 23,592 shares of the stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $51.30, for a total transaction of $1,210,269.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Thomas Wegman also recently made the following trade(s):

  • On Wednesday, August 15th, Thomas Wegman sold 23,908 shares of BioSpecifics Technologies stock. The shares were sold at an average price of $50.81, for a total transaction of $1,214,765.48.

NASDAQ:BSTC traded up $0.14 during mid-day trading on Friday, hitting $51.91. The company’s stock had a trading volume of 39,300 shares, compared to its average volume of 25,670. BioSpecifics Technologies Corp. has a fifty-two week low of $38.05 and a fifty-two week high of $54.50. The firm has a market capitalization of $350.52 million, a PE ratio of 30.54 and a beta of 1.45.

BioSpecifics Technologies (NASDAQ:BSTC) last posted its quarterly earnings results on Thursday, August 9th. The biopharmaceutical company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.10. BioSpecifics Technologies had a net margin of 49.78% and a return on equity of 19.59%. The firm had revenue of $7.10 million during the quarter, compared to analyst estimates of $7.10 million. equities research analysts expect that BioSpecifics Technologies Corp. will post 2.09 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the stock. MetLife Investment Advisors LLC acquired a new position in BioSpecifics Technologies in the fourth quarter worth about $132,000. Bank of America Corp DE raised its position in BioSpecifics Technologies by 466.7% in the second quarter. Bank of America Corp DE now owns 4,086 shares of the biopharmaceutical company’s stock worth $183,000 after purchasing an additional 3,365 shares in the last quarter. Summit Trail Advisors LLC raised its position in BioSpecifics Technologies by 3,339.8% in the first quarter. Summit Trail Advisors LLC now owns 233,802 shares of the biopharmaceutical company’s stock worth $234,000 after purchasing an additional 227,005 shares in the last quarter. Citadel Advisors LLC acquired a new position in BioSpecifics Technologies in the second quarter worth about $264,000. Finally, GSA Capital Partners LLP raised its position in BioSpecifics Technologies by 89.7% in the second quarter. GSA Capital Partners LLP now owns 9,500 shares of the biopharmaceutical company’s stock worth $426,000 after purchasing an additional 4,491 shares in the last quarter. 58.92% of the stock is owned by hedge funds and other institutional investors.

BSTC has been the subject of several research reports. BidaskClub cut shares of BioSpecifics Technologies from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 19th. HC Wainwright set a $65.00 target price on shares of BioSpecifics Technologies and gave the company a “buy” rating in a research note on Monday, April 30th. ValuEngine cut shares of BioSpecifics Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research cut shares of BioSpecifics Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, June 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $64.00.

About BioSpecifics Technologies

BioSpecifics Technologies Corp., a biopharmaceutical company, engages in the development of an injectable collagenase clostridium histolyticum for multiple 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 brand names.

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