Sol-Gel Technologies’ (SLGL) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Sol-Gel Technologies (NASDAQ:SLGL) in a research report sent to investors on Monday morning,Benzinga reports. HC Wainwright currently has a $110.00 price target on the stock.

A number of other analysts also recently weighed in on SLGL. Cantor Fitzgerald initiated coverage on Sol-Gel Technologies in a research report on Wednesday, October 14th. They set an “overweight” rating for the company. Mizuho started coverage on Sol-Gel Technologies in a report on Wednesday, June 24th. They set an “outperform” rating and a $285.00 target price on the stock. Zacks Research upgraded Sol-Gel Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sol-Gel Technologies in a research note on Tuesday, September 1st. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $197.50.

Sol-Gel Technologies Trading Up 1.1%

Shares of SLGL stock opened at $64.98 on Monday. The stock has a market cap of $212.48 million, a P/E ratio of -11.52 and a beta of 1.14. The stock has a 50 day simple moving average of $70.95 and a 200 day simple moving average of $73.98. Sol-Gel Technologies has a 1 year low of $28.81 and a 1 year high of $97.97.

Sol-Gel Technologies (NASDAQ:SLGL) last issued its quarterly earnings results on Friday, August 21st. The company reported ($1.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.36) by $1.23. Sol-Gel Technologies had a negative return on equity of 44.05% and a negative net margin of 910.14%. The business had revenue of $0.59 million for the quarter, compared to the consensus estimate of $0.07 million. Analysts forecast that Sol-Gel Technologies will post -5.37 EPS for the current year.

Insider Buying and Selling at Sol-Gel Technologies

In other news, major shareholder Opaleye Management Inc. purchased 1,493 shares of Sol-Gel Technologies stock in a transaction that occurred on Friday, September 11th. The shares were acquired at an average price of $65.94 per share, for a total transaction of $98,448.42. Following the transaction, the insider owned 540,000 shares of the company’s stock, valued at approximately $35,607,600. The trade was a 0.28% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last ninety days, insiders have purchased 53,430 shares of company stock worth $3,684,739. Corporate insiders own 66.51% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sol-Gel Technologies stock. Navellier & Associates Inc. acquired a new stake in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,785 shares of the company’s stock, valued at approximately $429,000. Navellier & Associates Inc. owned approximately 0.21% of Sol-Gel Technologies at the end of the most recent reporting period. 26.18% of the stock is owned by institutional investors.

Sol-Gel Technologies Company Profile

Sol-Gel Technologies Ltd. (NASDAQ: SLGL) is an Israeli specialty pharmaceutical company focused on developing and commercializing topical dermatological treatments. The company uses proprietary silica-based microsponge technology designed to encapsulate and gradually release active pharmaceutical ingredients in the skin.

Its marketed products include TWYNEO, a topical cream combining tretinoin and benzoyl peroxide for the treatment of acne vulgaris, and EPSOLAY, a topical benzoyl peroxide cream for the treatment of inflammatory lesions associated with rosacea.