Soligenix (NASDAQ:SNGX) Announces Earnings Results, Beats Expectations By $0.05 EPS

Soligenix (NASDAQ:SNGX) released its earnings results on Friday. The biopharmaceutical company reported ($0.58) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.05, Zacks reports.

Soligenix Trading Up 7.0%

SNGX traded up $0.09 during midday trading on Friday, hitting $1.37. 271,245 shares of the company were exchanged, compared to its average volume of 3,663,262. The company’s 50 day simple moving average is $1.94 and its 200 day simple moving average is $1.99. The firm has a market capitalization of $5.87 million, a price-to-earnings ratio of -0.36 and a beta of 2.00. Soligenix has a 1-year low of $1.09 and a 1-year high of $6.23.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SNGX. Weiss Ratings reiterated a “sell (e+)” rating on shares of Soligenix in a research note on Wednesday, October 8th. Alliance Global Partners lowered their price target on Soligenix from $10.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Finally, Wall Street Zen cut Soligenix to a “strong sell” rating in a research note on Saturday, August 16th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.00.

About Soligenix

Soligenix, Inc, a late-stage biopharmaceutical company, focuses on developing and commercializing products to treat rare diseases in the United States. The company operates through two segments, Specialized BioTherapeutics and Public Health Solutions. The Specialized BioTherapeutics segment develops SGX301 (HyBryte), a novel photodynamic therapy, which has completed Phase III clinical trial for the treatment of cutaneous T-cell lymphoma; SGX942, an innate defense regulator technology that is in Phase III clinical trial for the treatment of inflammatory diseases, including oral mucositis in head and neck cancer; SGX302, an IDR technology which is in Phase IIa study to treat mil-to-moderate Psoriasis; and SGX945 and IDR technology that is in Phase IIa protocol for the treatment of Aphthous Ulcers in Behçet's Disease.