In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Biospecifics Technologies Corp (NASDAQ: BSTC), with a price target of $65. The company’s shares closed on Tuesday at $44.77.
Selvaraju observed:
“Wegman, issued a letter to stakeholders of the company. Mr. Wegman has been diagnosed with glioblastoma and is undergoing treatment. However, based on our conversation with Mr. Wegman, we believe he is feeling good and optimistic about the therapy. There is limited impact on his work schedule and no disruption in the company’s ongoing operations. We note that Endo International (ENDP; not rated) continues to market Xiaflex (collagenase clostridium histolyticum, or CCH) for the treatment of Peyronie’s disease and Dupuytren’s contracture, and is slated to report top-line data from the Phase 3 trial of CCH for the treatment of cellulite in 1Q19. The cellulite pivotal data readout could be the next major catalyst for BioSpecifics, in our view. In the wake of this update, we reiterate our Buy rating and $65 price target. Phase 3 cellulite data in 1Q19.”
According to TipRanks.com, Selvaraju is a 1-star analyst with an average return of 0.0% and a 40.6% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, EyePoint Pharmaceuticals Inc, and Synergy Pharmaceuticals Inc.
Biospecifics Technologies Corp has an analyst consensus of Moderate Buy, with a price target consensus of $65.
See today’s analyst top recommended stocks >>
Biospecifics Technologies Corp’s market cap is currently $322.3M and has a P/E ratio of 27.47. The company has a Price to Book ratio of 3.94.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
