Sol-Gel Technologies (NASDAQ:SLGL) Stock Rating Upgraded by Zacks Research

Sol-Gel Technologies (NASDAQ:SLGL) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday, Zacks reports.

Other research analysts have also issued reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Sol-Gel Technologies in a research note on Tuesday, September 1st. HC Wainwright reiterated a “buy” rating on shares of Sol-Gel Technologies in a research note on Tuesday, October 6th. Cantor Fitzgerald started coverage on Sol-Gel Technologies in a report on Wednesday. They set an “overweight” rating on the stock. Finally, Mizuho assumed coverage on Sol-Gel Technologies in a report on Wednesday, June 24th. They set an “outperform” rating and a $285.00 price target on the stock. Two 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 stock presently has a consensus rating of “Buy” and an average target price of $197.50.

Sol-Gel Technologies Trading Down 6.5%

Shares of Sol-Gel Technologies stock traded down $4.45 during trading on Thursday, reaching $64.25. The company’s stock had a trading volume of 69,824 shares, compared to its average volume of 41,643. The company has a 50-day moving average price of $71.35 and a two-hundred day moving average price of $74.04. The firm has a market cap of $210.10 million, a PE ratio of -11.39 and a beta of 1.14. Sol-Gel Technologies has a fifty-two week low of $28.81 and a fifty-two week high of $97.97.

Sol-Gel Technologies (NASDAQ:SLGL) last released its quarterly earnings results on Friday, August 21st. The company reported ($1.13) EPS for the quarter, beating the consensus estimate of ($2.36) by $1.23. The firm 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%. On average, analysts predict that Sol-Gel Technologies will post -5.37 earnings per share for the current fiscal year.

Insider Activity at Sol-Gel Technologies

In related news, major shareholder Opaleye Management Inc. purchased 1,493 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The stock was purchased at an average cost of $65.94 per share, with a total value of $98,448.42. Following the completion of the acquisition, the insider directly owned 540,000 shares in the company, valued at $35,607,600. This trade represents a 0.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders purchased a total of 53,430 shares of company stock worth $3,684,739 in the last three months. 66.51% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sol-Gel Technologies

An institutional investor recently bought a new stake in Sol-Gel Technologies stock. Navellier & Associates Inc. purchased a new position in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 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 hedge funds and other 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.