Opaleye Management Inc. Purchases 2,524 Shares of Sol-Gel Technologies (NASDAQ:SLGL) Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. bought 2,524 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were bought at an average cost of $37.81 per share, with a total value of $95,432.44. Following the purchase, the insider directly owned 370,964 shares in the company, valued at approximately $14,026,148.84. This trade represents a 0.69% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Opaleye Management Inc. also recently made the following trade(s):

• On Monday, December 1st, Opaleye Management Inc. purchased 4,340 shares of Sol-Gel Technologies stock. The stock was bought at an average cost of $37.37 per share, for a total transaction of $162,185.80.

Sol-Gel Technologies Trading Up 2.3%

Shares of NASDAQ:SLGL opened at $40.70 on Friday. The firm has a market cap of $113.55 million, a price-to-earnings ratio of -12.48 and a beta of 1.36. Sol-Gel Technologies Ltd. has a 1 year low of $4.02 and a 1 year high of $52.26. The business has a fifty day simple moving average of $36.86 and a 200 day simple moving average of $21.83.

Sol-Gel Technologies (NASDAQ:SLGL) last issued its earnings results on Thursday, November 20th. The company reported ($2.13) earnings per share for the quarter, missing the consensus estimate of ($2.09) by ($0.04). Sol-Gel Technologies had a negative return on equity of 33.61% and a negative net margin of 47.37%.The firm had revenue of $0.40 million during the quarter, compared to analyst estimates of $0.30 million. On average, sell-side analysts forecast that Sol-Gel Technologies Ltd. will post -0.28 EPS for the current year.

Wall Street Analysts Forecast Growth

SLGL has been the topic of several recent research reports. Zacks Research raised shares of Sol-Gel Technologies to a “hold” rating in a research report on Tuesday, October 28th. Wall Street Zen lowered shares of Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sol-Gel Technologies in a research note on Friday, November 28th. Finally, HC Wainwright lifted their price objective on shares of Sol-Gel Technologies from $6.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, October 27th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $50.00.

About Sol-Gel Technologies

Sol-Gel Technologies Ltd., together with its subsidiary Sol-Gel Technologies Inc, develops topical dermatological drugs for patients with severe skin conditions in Israel. The company offers Twyneo, a once-daily, non-antibiotic topical cream for the treatment of acne vulgaris; and Epsolay, a once-daily topical cream for the treatment of papulopustular (subtype II) rosacea.