Sol-Gel Technologies (NASDAQ:SLGL) Issues Earnings Results, Beats Estimates By $1.55 EPS

Sol-Gel Technologies (NASDAQ:SLGL) released its quarterly earnings data on Thursday. The company reported ($1.31) EPS for the quarter, beating analysts’ consensus estimates of ($2.86) by $1.55, Zacks reports. Sol-Gel Technologies had a negative return on equity of 24.29% and a negative net margin of 31.60%.

Sol-Gel Technologies Stock Performance

NASDAQ SLGL opened at $72.71 on Thursday. The firm has a market cap of $204.32 million, a price-to-earnings ratio of -32.61 and a beta of 1.16. The firm has a 50 day simple moving average of $73.89 and a 200-day simple moving average of $63.18. Sol-Gel Technologies has a one year low of $6.80 and a one year high of $97.97.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SLGL. Lifesci Capital upgraded Sol-Gel Technologies to a “strong-buy” rating in a research report on Friday, May 15th. Wall Street Zen lowered Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings cut Sol-Gel Technologies from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

Insiders Place Their Bets

In other Sol-Gel Technologies news, major shareholder Opaleye Management Inc. bought 1,937 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were purchased at an average cost of $66.87 per share, with a total value of $129,527.19. Following the purchase, the insider directly owned 488,437 shares in the company, valued at approximately $32,661,782.19. This represents a 0.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 66.51% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sol-Gel Technologies

A hedge fund recently raised its stake in Sol-Gel Technologies stock. Opaleye Management Inc. increased its stake in Sol-Gel Technologies Ltd. (NASDAQ:SLGL) by 121.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and 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 about 2.5% of Opaleye Management Inc.’s holdings, making the stock its 9th largest holding. Opaleye Management Inc. owned about 16.29% of Sol-Gel Technologies worth $19,121,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 26.18% of the company’s stock.

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.