The President of Biospecifics Technologies Corp (BSTC) is Buying Shares


Yesterday, the President of Biospecifics Technologies Corp (NASDAQ: BSTC), Thomas Wegman, bought shares of BSTC for $1.05M.

Following this transaction Thomas Wegman’s holding in the company was increased by 17.46% to a total of $15.16 million. This is Wegman’s first Buy trade following 7 Sell transactions.

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Based on Biospecifics Technologies Corp’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $7.09 million and quarterly net profit of $3.98 million. In comparison, last year the company earned revenue of $6.54 million and had a net profit of $2.62 million. BSTC’s market cap is $324.6M and the company has a P/E ratio of 27.66. Currently, Biospecifics Technologies Corp has an average volume of 5,604.

Starting in November 2013, BSTC received 24 Buy ratings in a row.

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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.

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