H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Biospecifics Technologies Corp (NASDAQ: BSTC) today and set a price target of $72. The company’s shares closed yesterday at $61.27.
According to TipRanks.com, Selvaraju ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -13.5% and a 25.4% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Synergy Pharmaceuticals Inc, Bausch Health Companies Inc, and Fennec Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Biospecifics Technologies Corp with a $72 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.
