BioSpecifics Technologies' (NASDAQ:BSTC) Xiaflex Outlook Favorable

Commenting on the long-term outlook of Xiaflex, Global Hunter says they see shares of BioSpecifics Technologies (NASDAQ:BSTC) appreciating during the launch period.

Global Hunter said, "Our long-term outlook for Xiaflex in Dupuytren’s contracture remains favorable as we view the drug as an attractive alternative to surgery. In the near-term, we anticipate initiation of a Phase II Xiaflex study in canine lipomas in Q1:11. In our opinion, there remains significant upside potential to our fair value estimate and we anticipate shares appreciating during the Xiaflex launch. We recommend BSTC shares based on our physician diligence, the company’s long-term growth prospects, lack of competition, a de-risked clinical program, a solid balance sheet, upcoming milestones and favorable valuation."

Global Hunter Securities maintains a "Buy" rating on BioSpecifics Technologies, which closed Tuesday at $25.42, up $0.09, or 0.36 percent. They raised their price target on BioSpecifics from $29 to $32.