Soligenix (NASDAQ:SNGX) has been given a $4.00 target price by equities researchers at Maxim Group in a report issued on Thursday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Maxim Group’s target price suggests a potential upside of 312.37% from the stock’s previous close.
Separately, ValuEngine upgraded Soligenix from a “hold” rating to a “buy” rating in a report on Thursday, November 1st.
NASDAQ SNGX opened at $0.97 on Thursday. Soligenix has a 12 month low of $0.91 and a 12 month high of $3.70.
Soligenix (NASDAQ:SNGX) last posted its quarterly earnings data on Friday, November 9th. The biopharmaceutical company reported ($0.11) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.11). Soligenix had a negative net margin of 146.45% and a negative return on equity of 144.47%. The company had revenue of $1.40 million during the quarter, compared to the consensus estimate of $1.40 million. As a group, sell-side analysts expect that Soligenix will post -0.62 earnings per share for the current fiscal year.
In other news, Director Mark E. Pearson bought 170,000 shares of the firm’s stock in a transaction dated Wednesday, October 17th. The stock was acquired at an average price of $1.16 per share, for a total transaction of $197,200.00. Following the acquisition, the director now owns 2,500,000 shares of the company’s stock, valued at $2,900,000. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 5.03% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in shares of Soligenix during the 3rd quarter worth about $116,000. Renaissance Technologies LLC purchased a new stake in shares of Soligenix during the 3rd quarter worth about $188,000. Finally, Vanguard Group Inc. grew its holdings in shares of Soligenix by 46.5% during the 3rd quarter. Vanguard Group Inc. now owns 339,732 shares of the biopharmaceutical company’s stock worth $639,000 after purchasing an additional 107,875 shares during the period. Institutional investors and hedge funds own 9.13% of the company’s stock.
Soligenix, Inc, a late-stage biopharmaceutical company, focuses on developing and commercializing products to treat rare diseases in the United States. It operates in two segments, BioTherapeutics and Vaccines/BioDefense. The BioTherapeutics segment develops SGX301, a photodynamic therapy, which is in Phase III clinical trial to treat cutaneous T-cell lymphoma; and SGX942, an innate defense regulator technology that has completed Phase II clinical trial to treat oral mucositis in head and neck cancer.
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