Zacks Equity Research has upgraded BioSpecifics Technologies to a Buy rating, citing rising earning expectations.
Zacks Ranked BioSpecifics with a #2 or a Buy rating on its scale ranking from #1 Strong Buy to Zacks Rank #5 or Strong Sell.
“This rating change essentially reflects an upward trend in earnings estimates, one of the most powerful forces impacting stock prices,” Zacks indicated.
Only 5 percent of Zacks’ 4,000 covered stocks receive a ‘Strong Buy’ rating, while the next 15 percent receive a ‘Buy’ rating.
Zacks said that for the fiscal year ending December 2019, BioSpecifics is expected to earn $3.17 per share, up 16.1 percent from the prior year.
“Analysts have been steadily raising their estimates for BioSpecifics,” Zacks indicated, noting that the Zacks Consensus Estimate for the company has increased 5.7 percent over the past three months.