Sol-Gel Technologies (NASDAQ:SLGL) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of Sol-Gel Technologies (NASDAQ:SLGL) from a buy rating to a hold rating in a research report report published on Saturday.

SLGL has been the subject of a number of other research reports. HC Wainwright reiterated a “buy” rating and issued a $110.00 price objective (up from $50.00) on shares of Sol-Gel Technologies in a research report on Tuesday, January 20th. Weiss Ratings upgraded Sol-Gel Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Sol-Gel Technologies has an average rating of “Moderate Buy” and a consensus price target of $110.00.

Sol-Gel Technologies Stock Up 5.9%

Shares of NASDAQ:SLGL opened at $72.72 on Friday. The business has a 50 day moving average price of $75.99 and a 200 day moving average price of $61.00. Sol-Gel Technologies has a twelve month low of $6.80 and a twelve month high of $97.97. The company has a market cap of $204.34 million, a price-to-earnings ratio of -32.61 and a beta of 1.16.

Sol-Gel Technologies (NASDAQ:SLGL) last announced its earnings results on Thursday, March 19th. The company reported ($1.07) earnings per share for the quarter, missing the consensus estimate of $0.39 by ($1.46). Sol-Gel Technologies had a negative net margin of 31.60% and a negative return on equity of 24.29%. The business had revenue of $0.70 million for the quarter, compared to the consensus estimate of $6.50 million.

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

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

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.