Biospecifics Technologies Corp Gets a Buy Rating from H.C. Wainwright

By Ryan Adsit

H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Biospecifics Technologies Corp (NASDAQ: BSTC) today and set a price target of $65. The company’s shares closed yesterday at $43.42.

According to TipRanks.com, Selvaraju is ranked 0 out of 5 stars with an average return of -6.8% and a 35.0% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, RegeneRx Biopharmaceuticals Inc, and SELLAS Life Sciences Group Inc.

Biospecifics Technologies Corp has an analyst consensus of Moderate Buy, with a price target consensus of $65.

Based on Biospecifics Technologies Corp’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $6.52 million and quarterly net profit of $2.71 million. In comparison, last year the company earned revenue of $6.62 million and had a net profit of $2.92 million.

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BioSpecifics Technologies Corp. engages in the development of an injectable collagenase for multiple indications. Its product includes XIAFLEX, is an injectable collagenase enzyme, which is used for the treatment of Dupuytren’s contracture in adults with a palpable cord in the palm. The company was founded in 1990 and is headquartered in Lynbrook, NY.