Aegis Capital Reiterates Buy Rating, $50 PT on BioSpecifics Technologies Ahead of Earnings Conference

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

. 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. Furthermore, we note that Xiaflex could receive approval in the U.S. for use in Peyronie's disease on September 6, 2013. We reiterate our Buy rating and a 15-month price target of $50 per share.” BioSpecifics Technologies Corp. closed on Friday at $16.29.