Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Receives Average Recommendation of “Moderate Buy” from Brokerages

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) has received an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $110.00.

A number of equities analysts have recently issued reports on SLGL shares. Lifesci Capital raised Sol-Gel Technologies to a “strong-buy” rating in a report on Friday, May 15th. TD Cowen started coverage on Sol-Gel Technologies in a report on Friday. They issued a “buy” rating for the company. Weiss Ratings cut Sol-Gel Technologies from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. Finally, Wall Street Zen cut Sol-Gel Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 16th.

Insiders Place Their Bets

In other Sol-Gel Technologies news, major shareholder Opaleye Management Inc. purchased 1,937 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average cost of $66.87 per share, with a total value of $129,527.19. Following the acquisition, the insider directly owned 488,437 shares of the company’s stock, valued at approximately $32,661,782.19. This trade represents a 0.40% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 66.51% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sol-Gel Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Yelin Lapidot Holdings Management Ltd. acquired a new stake in shares of Sol-Gel Technologies in the 4th quarter valued at $748,000. Affinity Asset Advisors LLC bought a new position in shares of Sol-Gel Technologies in the 1st quarter worth $2,773,000. Finally, Opaleye Management Inc. boosted its position in shares of Sol-Gel Technologies by 121.5% in the 4th quarter. Opaleye Management Inc. now owns 453,739 shares of the company’s stock worth $19,121,000 after purchasing an additional 248,904 shares during the last quarter. 26.18% of the stock is owned by institutional investors and hedge funds.

Sol-Gel Technologies Trading Up 2.0%

Shares of SLGL opened at $75.28 on Friday. Sol-Gel Technologies has a 1 year low of $6.80 and a 1 year high of $97.97. The stock has a 50 day simple moving average of $73.77 and a 200-day simple moving average of $63.49. The stock has a market cap of $211.54 million, a PE ratio of -33.76 and a beta of 1.16.

Sol-Gel Technologies (NASDAQ:SLGL) last issued its earnings results on Thursday, May 28th. The company reported ($1.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.90) by $1.59. Sol-Gel Technologies had a negative return on equity of 24.29% and a negative net margin of 31.60%.The business had revenue of $0.11 million during the quarter, compared to analysts’ expectations of $0.90 million. On average, sell-side analysts forecast that Sol-Gel Technologies will post -11.41 EPS for the current fiscal year.

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.