Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL) have been given an average rating of “Moderate Buy” by the six research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $197.50.

A number of equities analysts have recently commented on SLGL shares. Wall Street Zen downgraded shares of Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. TD Cowen began coverage on Sol-Gel Technologies in a research report on Friday, May 29th. They issued a “buy” rating on the stock. Mizuho began 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. Lifesci Capital raised Sol-Gel Technologies to a “strong-buy” rating in a research report on Friday, May 15th. Finally, Weiss Ratings downgraded Sol-Gel Technologies from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Thursday, June 4th.

Insider Activity

In related news, major shareholder Opaleye Management Inc. acquired 1,400 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was bought at an average price of $71.97 per share, with a total value of $100,758.00. Following the acquisition, the insider owned 491,712 shares in the company, valued at $35,388,512.64. This represents a 0.29% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders purchased 5,678 shares of company stock worth $393,758. Corporate insiders own 66.51% of the company’s stock.

Institutional Trading of Sol-Gel Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Yelin Lapidot Holdings Management Ltd. acquired a new stake in Sol-Gel Technologies in the fourth quarter valued at $748,000. Affinity Asset Advisors LLC acquired a new position in shares of Sol-Gel Technologies during the 1st quarter worth about $2,773,000. Finally, Opaleye Management Inc. increased its stake in shares of Sol-Gel Technologies by 121.5% during 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.

Sol-Gel Technologies Stock Up 6.6%

Shares of SLGL stock opened at $83.20 on Friday. Sol-Gel Technologies has a 12 month low of $8.02 and a 12 month high of $97.97. The company’s fifty day simple moving average is $73.58 and its 200-day simple moving average is $72.20. The firm has a market cap of $233.79 million, a PE ratio of -244.70 and a beta of 1.12.

Sol-Gel Technologies (NASDAQ:SLGL) last released its earnings results on Thursday, May 28th. The company reported ($1.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.86) by $1.55. The business had revenue of $0.11 million during the quarter, compared to the consensus estimate of $0.90 million. Sol-Gel Technologies had a negative net margin of 5.66% and a negative return on equity of 3.17%. On average, equities analysts predict that Sol-Gel Technologies will post -9.1 earnings per share 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.