In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Biospecifics Technologies Corp (BSTC), with a price target of $81. The company’s shares closed yesterday at $63.49, close to its 52-week high of $66.30.
Selvaraju noted:
“Our price target is derived from a market value of the firm at $587M, which includes a discounted cash flow based asset value of $500M for Xiaflex (or CCH), with a 15% discount rate and 2% terminal growth rate, and projected cash position of $87M at the end of 3Q19.”
According to TipRanks.com, Selvaraju has currently no stars on a ranking scale of 0-5 stars, with an average return of -8.3% and a 30.5% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Fennec Pharmaceuticals Inc, and Aerpio Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Biospecifics Technologies Corp with a $81 average price target.
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Based on Biospecifics Technologies Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $4.3 million. In comparison, last year the company had a net profit of $2.71 million.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2018, Michael Schamroth, a Director at BSTC bought 15,000 shares for a total of $300,000.
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BioSpecifics Technologies Corp. engages in the development of an injectable collagenase for multiple indications. Its products include XIAFLEX, which is a treatment used for Dupuytren’s contracture. The company was founded in 1990 and is headquartered in Lynbrook, NY.
