Sol-Gel Technologies’ (SLGL) Buy Rating Reaffirmed at HC Wainwright

Sol-Gel Technologies (NASDAQ:SLGL)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a report released on Monday,Benzinga reports. They presently have a $110.00 target price on the stock. HC Wainwright’s price target indicates a potential upside of 32.21% from the company’s previous close.

A number of other equities analysts have also recently issued reports on SLGL. Weiss Ratings cut shares of Sol-Gel Technologies from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Thursday, June 4th. Lifesci Capital raised Sol-Gel Technologies to a “strong-buy” rating in a research note on Friday, May 15th. Wall Street Zen downgraded Sol-Gel Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Mizuho initiated 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. Finally, TD Cowen assumed coverage on Sol-Gel Technologies in a research report on Friday, May 29th. They set a “buy” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $197.50.

Sol-Gel Technologies Price Performance

Shares of NASDAQ SLGL opened at $83.20 on Monday. Sol-Gel Technologies has a 52 week low of $8.02 and a 52 week high of $97.97. The firm’s fifty day moving average is $73.58 and its 200 day moving average is $72.39. The company has a market cap of $233.79 million, a price-to-earnings ratio of -244.70 and a beta of 1.12.

Sol-Gel Technologies (NASDAQ:SLGL) last posted its quarterly earnings results on Thursday, May 28th. The company reported ($1.31) EPS for the quarter, beating analysts’ consensus estimates of ($2.86) by $1.55. The company had revenue of $0.11 million during the quarter, compared to analyst estimates of $0.90 million. Sol-Gel Technologies had a negative net margin of 5.66% and a negative return on equity of 3.17%. Equities research analysts anticipate that Sol-Gel Technologies will post -9.1 earnings per share for the current year.

Insider Transactions at Sol-Gel Technologies

In related news, major shareholder Opaleye Management Inc. acquired 1,937 shares of the stock in a transaction on Wednesday, May 13th. The stock was acquired at an average cost of $66.87 per share, for a total transaction of $129,527.19. Following the completion of the acquisition, the insider directly owned 488,437 shares of the company’s stock, valued at approximately $32,661,782.19. This represents a 0.40% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought 5,678 shares of company stock valued at $393,758 over the last ninety days. 66.51% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Yelin Lapidot Holdings Management Ltd. bought a new position in shares of Sol-Gel Technologies in the 4th quarter worth approximately $748,000. Affinity Asset Advisors LLC purchased a new position in shares of Sol-Gel Technologies in the 1st quarter valued at approximately $2,773,000. Finally, Opaleye Management Inc. boosted its position in shares of Sol-Gel Technologies by 121.5% during the fourth 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. Hedge funds and other 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.