Sol-Gel Technologies (NASDAQ:SLGL) Releases Quarterly Earnings Results, Misses Estimates By $1.46 EPS

Sol-Gel Technologies (NASDAQ:SLGL) announced its earnings results on Thursday. The company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($1.46), Zacks reports. The firm had revenue of $0.70 million for the quarter, compared to analyst estimates of $6.50 million. Sol-Gel Technologies had a negative return on equity of 33.61% and a negative net margin of 47.37%.

Sol-Gel Technologies Stock Up 8.5%

Shares of SLGL opened at $81.71 on Friday. Sol-Gel Technologies has a fifty-two week low of $4.02 and a fifty-two week high of $97.97. The company’s fifty day moving average is $73.91 and its two-hundred day moving average is $49.40. The firm has a market cap of $227.97 million, a PE ratio of -25.06 and a beta of 1.30.

Insider Activity at Sol-Gel Technologies

In other news, major shareholder Opaleye Management Inc. bought 1,151 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The shares were acquired at an average cost of $55.98 per share, with a total value of $64,432.98. Following the transaction, the insider owned 449,844 shares of the company’s stock, valued at $25,182,267.12. This represents a 0.26% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders acquired 72,633 shares of company stock worth $3,096,495. Corporate insiders own 66.51% of the company’s stock.

Institutional Investors Weigh In On Sol-Gel Technologies

A hedge fund recently raised its stake in Sol-Gel Technologies stock. Opaleye Management Inc. lifted its holdings in Sol-Gel Technologies Ltd. (NASDAQ:SLGL) by 121.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 453,739 shares of the company’s stock after acquiring an additional 248,904 shares during the period. Sol-Gel Technologies makes up 2.5% of Opaleye Management Inc.’s portfolio, making the stock its 9th biggest position. Opaleye Management Inc. owned about 16.29% of Sol-Gel Technologies worth $19,121,000 as of its most recent SEC filing. 26.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SLGL. HC Wainwright restated a “buy” rating and set a $110.00 price objective (up from $50.00) on shares of Sol-Gel Technologies in a report on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Sol-Gel Technologies in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Sol-Gel Technologies 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.