Hapoalim Securities Reports on BioSpecifics (BSTC)

In a report released today, Hapoalim Securities commented on BioSpecifics (NASDAQ: BSTC). In the report, Hapoalim was bullish on the company.

Hapoalim writes, “BioSpecifics reported 1Q11 EPS of $0.51 versus our $(0.06) estimate and the company anticipates that it will now be profitable on an ongoing annual basis. Based on the recent launch of Xiapex in Europe and sales trends for Xiaflex in the U.S., we are increasing our peak sales estimate for Xiaflex and increasing our Price Target from $26 to $27. We are also upgrading BioSpecifics from a Hold to a Buy.”

Hapoalim has a Buy rating on the company and a price target of $27. Shares of the company closed the trading day at $22.83, up from the opening price of $22.58.