Sol-Gel Technologies (NASDAQ:SLGL) Upgraded by Lifesci Capital to Strong-Buy Rating

Sol-Gel Technologies (NASDAQ:SLGL) was upgraded by equities research analysts at Lifesci Capital to a “strong-buy” rating in a report released on Friday,Zacks.com reports.

A number of other analysts have also commented on SLGL. Weiss Ratings upgraded Sol-Gel Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday. HC Wainwright restated a “buy” rating and issued a $110.00 price target (up from $50.00) on shares of Sol-Gel Technologies in a report on Tuesday, January 20th. Finally, Wall Street Zen lowered Sol-Gel Technologies from a “buy” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $110.00.

Sol-Gel Technologies Price Performance

Shares of Sol-Gel Technologies stock opened at $72.72 on Friday. The firm has a market cap of $204.34 million, a price-to-earnings ratio of -32.61 and a beta of 1.16. The stock’s 50-day moving average is $75.99 and its 200-day moving average is $61.00. Sol-Gel Technologies has a one year low of $6.80 and a one year high of $97.97.

Sol-Gel Technologies (NASDAQ:SLGL) last issued its quarterly earnings results on Thursday, March 19th. The company reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($1.46). The firm had revenue of $0.70 million during the quarter, compared to the consensus estimate of $6.50 million. Sol-Gel Technologies had a negative net margin of 31.60% and a negative return on equity of 24.29%.

Insider Activity

In related news, major shareholder Opaleye Management Inc. bought 1,937 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average price of $66.87 per share, with a total value of $129,527.19. Following the completion of the transaction, the insider owned 488,437 shares in the company, valued at $32,661,782.19. The trade was a 0.40% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 66.51% of the company’s stock.

Institutional Trading of Sol-Gel Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Affinity Asset Advisors LLC acquired a new stake in shares of Sol-Gel Technologies in the first quarter valued at about $2,773,000. Opaleye Management Inc. increased its position in Sol-Gel Technologies by 121.5% during the fourth quarter. Opaleye Management Inc. now owns 453,739 shares of the company’s stock worth $19,121,000 after buying an additional 248,904 shares during the last quarter. Finally, Yelin Lapidot Holdings Management Ltd. acquired a new position in Sol-Gel Technologies during the fourth quarter worth approximately $748,000. Institutional investors and hedge funds own 26.18% of the company’s stock.

About Sol-Gel Technologies

Sol-Gel Technologies, Inc (NASDAQ: SLGL) is a U.S.-based advanced materials company specializing in the development and commercialization of nanostructured materials using proprietary sol-gel processes. Leveraging expertise in materials chemistry and thin-film deposition, the company focuses on the production of metal oxide powders, sols, coatings and functional inks designed to enhance performance in a variety of industrial and commercial applications.

The company’s product portfolio includes corrosion- and abrasion-resistant coatings, dielectric and conductive films, catalyst supports and specialty fillers.