Sol-Gel Technologies (SLGL) Expected to Announce Earnings on Wednesday

Sol-Gel Technologies (NASDAQ:SLGL) is expected to be announcing its results before the market opens on Wednesday, March 11th. Analysts expect the company to announce earnings of $0.39 per share and revenue of $6.50 million for the quarter.

Sol-Gel Technologies Trading Up 3.3%

Shares of SLGL opened at $81.64 on Monday. The firm has a market cap of $227.78 million, a PE ratio of -25.04 and a beta of 1.30. Sol-Gel Technologies has a 12 month low of $4.02 and a 12 month high of $97.97. The stock has a fifty day moving average price of $67.17 and a 200-day moving average price of $45.94.

Insider Activity

In related news, major shareholder Opaleye Management Inc. acquired 35,169 shares of the stock in a transaction dated Tuesday, December 30th. The stock was acquired at an average cost of $41.99 per share, for a total transaction of $1,476,746.31. Following the completion of the purchase, the insider owned 421,242 shares of the company’s stock, valued at approximately $17,687,951.58. This represents a 9.11% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired a total of 75,368 shares of company stock valued at $3,206,907 over the last three months. Company insiders own 66.51% of the company’s stock.

Institutional Trading of Sol-Gel Technologies

An institutional investor recently raised its position in Sol-Gel Technologies stock. Opaleye Management Inc. boosted its holdings in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL) by 121.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 453,739 shares of the company’s stock after purchasing an additional 248,904 shares during the period. Sol-Gel Technologies comprises approximately 2.5% of Opaleye Management Inc.’s investment portfolio, making the stock its 9th biggest holding. Opaleye Management Inc. owned approximately 16.29% of Sol-Gel Technologies worth $19,121,000 as of its most recent SEC filing. Institutional investors and hedge funds own 26.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SLGL. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sol-Gel Technologies in a research report on Monday, December 29th. HC Wainwright reissued 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. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $110.00.

Sol-Gel Technologies Company Profile

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.