Maxim Group Reaffirms “Buy” Rating for Soligenix (NASDAQ:SNGX)

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Soligenix (NASDAQ:SNGX)‘s stock had its “buy” rating reiterated by equities researchers at Maxim Group in a research report issued to clients and investors on Wednesday, AnalystRatings.com reports. They currently have a $4.00 price target on the biopharmaceutical company’s stock. Maxim Group’s price objective would indicate a potential upside of 304.04% from the company’s current price.

Separately, ValuEngine upgraded Soligenix from a “sell” rating to a “hold” rating in a report on Wednesday, November 27th.

Shares of Soligenix stock traded down $0.02 on Wednesday, reaching $0.99. The stock had a trading volume of 1,000 shares, compared to its average volume of 56,320. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.42 and a current ratio of 1.42. The business’s 50-day moving average price is $0.95 and its two-hundred day moving average price is $0.93. The stock has a market cap of $21.27 million, a P/E ratio of -1.46 and a beta of 1.32. Soligenix has a fifty-two week low of $0.65 and a fifty-two week high of $1.39.

Soligenix (NASDAQ:SNGX) last announced its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01). Soligenix had a negative return on equity of 212.69% and a negative net margin of 193.39%. The firm had revenue of $1.30 million during the quarter, compared to the consensus estimate of $1.40 million. As a group, equities analysts forecast that Soligenix will post -0.46 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Soligenix stock. Vanguard Group Inc. increased its holdings in shares of Soligenix, Inc. (NASDAQ:SNGX) by 23.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 412,158 shares of the biopharmaceutical company’s stock after acquiring an additional 76,955 shares during the quarter. Vanguard Group Inc. owned about 2.10% of Soligenix worth $293,000 as of its most recent SEC filing. 9.89% of the stock is currently owned by hedge funds and other institutional investors.

Soligenix Company Profile

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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