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Aegis Capital Reiterates Buy Rating on BioSpecifics Technologies Ahead of Conference Call

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In a report published Monday, Aegis Capital reiterated its Buy rating and $50.00 price target on BioSpecifics Technologies Corp. (NASDAQ: BSTC).

Aegis Capital noted, “We are revising our numbers ahead of BioSpecifics' earnings conference call this week to account for the fact that, unlike its partner Auxilium Pharmaceuticals, BioSpecifics is not recognizing additional revenue in 4Q 2012 as a result of Pfizer's termination of its licensing agreement with Auxilium on Xiaflex in Europe. Regardless, we continue to believe that investors should take note of BioSpecifics' low valuation and risk-mitigated status at this juncture. From our perspective, the firm could have a catalyst-rich 2013. In particular, we expect proof-of-concept data in human and canine lipoma clinical trials with Xiaflex in the summer.”

BioSpecifics Technologies Corp. closed on Friday at $16.29.

Posted-In: Aegis CapitalAnalyst Color Reiteration Analyst Ratings


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