Biospecifics Technologies Corp (BSTC) Files Form 4 Insider Selling : Thomas Wegman Sells 50,000 Shares

Biospecifics Technologies Corp (BSTC): Thomas Wegman , President of Biospecifics Technologies Corp sold 50,000 shares on May 18, 2016. The Insider selling transaction was reported by the company on May 19, 2016 to the Securities and Exchange Commission. The shares were sold at $33.76 per share for a total value of $1,650,533.00 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on Dec 22, 2015, Jeffrey Kenneth Vogel (other) purchased 11,196 shares at $48.39 per share price.On Nov 30, 2015, Thomas Wegman (President & CEO) sold 2,000 shares at $50.00 per share price.Also, On Jul 21, 2015, Paul Gitman (director) sold 8,692 shares at $53.00 per share price.On May 4, 2015, Toby Wegman (director) sold 2,950 shares at $39.39 per share price.

BioSpecifics Technologies Corp.: On Thursday, May 19, 2016 heightened volatility was witnessed in BioSpecifics Technologies Corp. which led to swings in the share price. The shares opened for trading at $33.66 and hit $34.342 on the upside , eventually ending the session at $33.96, with a gain of 0.50% or 0.17 points. The heightened volatility saw the trading volume jump to 55,250 shares. The 52-week high of the share price is $72.07 and the company has a market cap of $238 M . The 52-week low of the share price is at $30.7.

BioSpecifics Technologies Corp. Money Flow Index Chart

Company has been under the radar of several Street Analysts.BioSpecifics Technologies Corp. is Initiated by Rodman & Renshaw to Buy and the brokerage firm has set the Price Target at $60. The Rating was issued on Mar 8, 2016.

BioSpecifics Technologies Corp. is a biopharmaceutical company. The Company is engaged in the development of an injectable collagenase for multiple indications. The Company has a development and license agreement with Auxilium Pharmaceuticals Inc. (Auxilium) for injectable collagenase for marketed indications and collagenase clostridium histolyticum (CCH) for indications in development. Auxilium has an option to acquire additional indications that the Company may pursue including human and canine lipoma. The Company generates revenue primarily from Auxilium pursuant to the Second Amended and Restated Development and License Agreement with Auxilium (Auxilium Agreement). Under the Auxilium Agreement the Company receives license sublicense income royalties milestones and mark-up on cost of goods sold payments related to the sale and approval of XIAFLEX.

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BioSpecifics Technologies Corp. - Is it time to Sell?

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