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

Sol-Gel Technologies (NASDAQ:SLGL)‘s stock had its “buy” rating restated by 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 would suggest a potential upside of 67.38% from the stock’s current price.

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

Sol-Gel Technologies Trading Down 0.1%

Sol-Gel Technologies stock traded down $0.09 during mid-day trading on Monday, hitting $65.72. The stock had a trading volume of 59,516 shares, compared to its average volume of 41,272. Sol-Gel Technologies has a one year low of $28.81 and a one year high of $97.97. The firm’s 50 day moving average is $70.71 and its 200 day moving average is $73.85. The firm has a market capitalization of $215.17 million, a P/E ratio of -11.65 and a beta of 1.14.

Sol-Gel Technologies (NASDAQ:SLGL) last posted its earnings results on Friday, August 21st. The company reported ($1.13) earnings per share for the quarter, beating the consensus estimate of ($2.36) by $1.23. Sol-Gel Technologies had a negative net margin of 910.14% and a negative return on equity of 44.05%. The company had revenue of $0.59 million during the quarter, compared to analysts’ expectations of $0.08 million. As a group, equities research analysts forecast that Sol-Gel Technologies will post -5.37 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Opaleye Management Inc. acquired 35,113 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were acquired at an average price of $69.32 per share, with a total value of $2,434,033.16. Following the completion of the transaction, the insider owned 520,000 shares of the company’s stock, valued at $36,046,400. The trade was a 7.24% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders bought 53,430 shares of company stock valued at $3,684,739. Insiders own 66.51% of the company’s stock.

Hedge Funds Weigh In On Sol-Gel Technologies

An institutional investor recently bought a new position in Sol-Gel Technologies stock. Navellier & Associates Inc. bought a new position in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 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. 26.18% of the stock is currently owned by institutional investors and hedge funds.

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.