Maxim Group Boosts Soligenix Inc. (SNGX) Price Target to $5.00

Soligenix Inc. (NASDAQ:SNGX) had its target price raised by equities researchers at Maxim Group from $4.00 to $5.00 in a research note issued on Monday, Marketbeat.com reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Maxim Group’s price target would indicate a potential upside of 118.26% from the company’s previous close.

Separately, HC Wainwright initiated coverage on Soligenix in a research note on Monday, July 17th. They issued a “buy” rating for the company.

Shares of Soligenix (NASDAQ SNGX) opened at 2.2908 on Monday. Soligenix has a one year low of $2.26 and a one year high of $14.40. The stock’s 50 day moving average price is $2.26 and its 200-day moving average price is $2.45. The stock’s market cap is $12.99 million.

Soligenix (NASDAQ:SNGX) last announced its quarterly earnings data on Friday, August 11th. The biopharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by $0.09. The business had revenue of $1 million during the quarter, compared to analysts’ expectations of $1.43 million. Soligenix had a negative return on equity of 120.35% and a negative net margin of 86.15%. On average, equities analysts predict that Soligenix will post ($1.40) earnings per share for the current fiscal year.

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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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