Soligenix Inc. (NASDAQ:SNGX) Coverage Initiated at HC Wainwright

Stock analysts at HC Wainwright began coverage on shares of Soligenix Inc. (NASDAQ:SNGX) in a note issued to investors on Monday. The firm set a “buy” rating on the biopharmaceutical company’s stock.

Separately, Maxim Group reissued a “buy” rating and set a $4.00 price objective on shares of Soligenix in a research report on Monday, June 19th.

Soligenix (SNGX) opened at 2.07 on Monday. The firm’s 50-day moving average is $2.30 and its 200-day moving average is $2.50. The company’s market cap is $11.74 million. Soligenix has a 52-week low of $2.07 and a 52-week high of $14.40.

Soligenix (NASDAQ:SNGX) last issued its earnings results on Thursday, May 11th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by $0.02. The company had revenue of $1.30 million during the quarter. Soligenix had a negative return on equity of 102.83% and a negative net margin of 41.74%. On average, equities research analysts anticipate that Soligenix will post ($0.98) EPS for the current year.

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In related news, major shareholder Randal J. Kirk sold 160,968 shares of the firm’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $3.12, for a total transaction of $502,220.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.03% of the stock is currently owned by company insiders.

About Soligenix

Soligenix, Inc is a late-stage biopharmaceutical company. The Company is focused on developing and commercializing products to treat rare diseases. The Company operates through two segments: BioTherapeutics and Vaccines/BioDefense. Its BioTherapeutics segment is developing a photodynamic therapy (SGX301) utilizing topical synthetic hypericin activated with safe visible light for the treatment of cutaneous T-cell lymphoma (CTCL), formulations of oral beclomethasone 17,21-dipropionate (BDP) for the prevention/treatment of gastrointestinal (GI) disorders characterized by severe inflammation, and its innate defense regulator (IDR) technology, dusquetide (SGX942) for the treatment of oral mucositis in head and neck cancer.

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