HC Wainwright reaffirmed their buy rating on shares of Sol Gel Technologies (NASDAQ:SLGL) in a research note released on Monday morning, AnalystRatings.com reports. HC Wainwright currently has a $23.00 target price on the stock.
Other equities research analysts have also recently issued research reports about the company. ValuEngine cut Sol Gel Technologies from a hold rating to a sell rating in a report on Friday, October 4th. Zacks Investment Research lowered Sol Gel Technologies from a hold rating to a sell rating in a research note on Tuesday, November 19th.
SLGL traded down $0.35 on Monday, reaching $8.62. 386 shares of the company’s stock were exchanged, compared to its average volume of 14,916. Sol Gel Technologies has a twelve month low of $5.41 and a twelve month high of $11.36. The stock has a market cap of $165.58 million, a PE ratio of -4.91 and a beta of 0.62. The stock’s fifty day moving average price is $8.09 and its 200-day moving average price is $8.68.
Sol Gel Technologies (NASDAQ:SLGL) last released its quarterly earnings data on Wednesday, November 13th. The company reported ($0.37) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.12). The business had revenue of $4.73 million during the quarter, compared to analyst estimates of $6.56 million. Sol Gel Technologies had a negative net margin of 223.99% and a negative return on equity of 71.98%. Analysts expect that Sol Gel Technologies will post -1.12 EPS for the current year.
Several hedge funds have recently made changes to their positions in the company. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Sol Gel Technologies by 4.9% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 62,948 shares of the company’s stock valued at $573,000 after purchasing an additional 2,961 shares during the period. Phoenix Holdings Ltd. purchased a new stake in shares of Sol Gel Technologies in the 3rd quarter valued at approximately $17,471,000. BlackRock Inc. increased its holdings in shares of Sol Gel Technologies by 104.6% during the 2nd quarter. BlackRock Inc. now owns 10,753 shares of the company’s stock worth $98,000 after buying an additional 5,497 shares during the last quarter. Delek Group Ltd. increased its holdings in shares of Sol Gel Technologies by 5.2% during the 2nd quarter. Delek Group Ltd. now owns 1,545,497 shares of the company’s stock worth $13,750,000 after buying an additional 76,585 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Sol Gel Technologies by 12.8% during the 2nd quarter. Invesco Ltd. now owns 13,052 shares of the company’s stock valued at $119,000 after buying an additional 1,483 shares during the period. 35.25% of the stock is currently owned by hedge funds and other institutional investors.
About Sol Gel Technologies
Sol-Gel Technologies Ltd., a clinical-stage specialty pharmaceutical company, focuses on developing and commercializing topical dermatological drug products based on its proprietary microencapsulation delivery system in Israel. The company's lead product candidates include TWIN and SIRS-T, which has completed Phase II clinical trials for the treatment of acne vulgaris; and VERED that has completed Phase II clinical trials for the treatment of papulopustular rosacea.
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