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

Monarch Partners Asset Management LLC increased its position in shares of BioSpecifics Technologies Corp. (NASDAQ:BSTC) by 13.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,536 shares of the biopharmaceutical company’s stock after acquiring an additional 1,010 shares during the period. Monarch Partners Asset Management LLC owned approximately 0.12% of BioSpecifics Technologies worth $457,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Advisor Group Inc. increased its holdings in shares of 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 buying an additional 356 shares during the last quarter. Advantage Investment Management LLC increased its holdings in shares of 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 buying an additional 278 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of BioSpecifics Technologies by 10.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 2,274 shares of the biopharmaceutical company’s stock worth $122,000 after buying an additional 206 shares during the last quarter. Shaker Investments LLC OH bought a new position in shares of BioSpecifics Technologies in the 2nd quarter worth $205,000. Finally, Nisa Investment Advisors LLC bought a new position in shares of BioSpecifics Technologies in the 3rd quarter worth $189,000. 58.84% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently commented on BSTC. ValuEngine raised shares of BioSpecifics Technologies from a “sell” rating to a “hold” rating in a report on Friday, October 4th. HC Wainwright set a $90.00 price target on shares of BioSpecifics Technologies and gave the stock a “buy” rating in a report on Friday, October 11th. Zacks Investment Research lowered shares of BioSpecifics Technologies from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Finally, BidaskClub lowered shares of BioSpecifics Technologies from a “sell” rating to a “strong sell” rating in a report on Thursday, October 17th.

Shares of NASDAQ:BSTC traded up $0.44 during trading on Friday, reaching $50.65. The company had a trading volume of 79,300 shares, compared to its average volume of 56,028. BioSpecifics Technologies Corp. has a 12 month low of $45.81 and a 12 month high of $73.31. The stock has a market capitalization of $365.71 million, a P/E ratio of 18.55 and a beta of 1.16. The company has a fifty day moving average of $51.16 and a two-hundred day moving average of $57.82.

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

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

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

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