Sol-Gel Technologies (NASDAQ:SLGL) Stock Rating Reaffirmed as “Buy” by HC Wainwright

Sol-Gel Technologies (NASDAQ:SLGL)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $110.00 price target on the stock. HC Wainwright’s price objective would indicate a potential upside of 67.15% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Cantor Fitzgerald initiated coverage on Sol-Gel Technologies in a research report on Wednesday, October 14th. They issued an “overweight” rating for the company. Zacks Research raised Sol-Gel Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Sol-Gel Technologies in a report on Tuesday, September 1st. Finally, Mizuho assumed coverage on Sol-Gel Technologies in a report on Wednesday, June 24th. They issued an “outperform” rating and a $285.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $197.50.

Sol-Gel Technologies Trading Up 1.3%

SLGL opened at $65.81 on Monday. Sol-Gel Technologies has a twelve month low of $28.81 and a twelve month high of $97.97. The firm has a market capitalization of $215.46 million, a PE ratio of -11.67 and a beta of 1.14. The firm’s 50-day moving average price is $70.71 and its 200 day moving average price is $73.85.

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

Insider Transactions at Sol-Gel Technologies

In other news, major shareholder Opaleye Management Inc. purchased 1,493 shares of the firm’s stock in a transaction on Friday, September 11th. The shares were bought at an average cost of $65.94 per share, for a total transaction of $98,448.42. Following the completion of the purchase, the insider directly owned 540,000 shares of the company’s stock, valued at approximately $35,607,600. This trade represents a 0.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased a total of 53,430 shares of company stock valued at $3,684,739 over the last 90 days. 66.51% of the stock is owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Sol-Gel Technologies stock. Navellier & Associates Inc. acquired a new stake in Sol-Gel Technologies Ltd. (NASDAQ:SLGL) in the second quarter, according to its most recent disclosure 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 quarter. Hedge funds and other institutional investors own 26.18% of the company’s stock.

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.