Sol-Gel Technologies (NASDAQ:SLGL) Downgraded by Zacks Investment Research to “Hold”

Sol-Gel Technologies (NASDAQ:SLGLGet Rating) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “Sol-Gel Technologies Ltd.is a clinical-stage dermatology company. It focused on identifying, developing and commercializing branded and generic topical drug products for the treatment of skin diseases. Its product candidates include VERED for the treatment of papulopustular rosacea, TWIN and SIRS-T for the treatment of acne vulgaris, which are in its clinical stage. Sol-Gel Technologies Ltd.is based in Israel. “

SLGL has been the subject of several other research reports. Raymond James decreased their price target on shares of Sol-Gel Technologies from $21.00 to $17.00 and set a “strong-buy” rating for the company in a report on Friday, April 1st. HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Sol-Gel Technologies in a research report on Monday.

Shares of SLGL opened at $7.16 on Thursday. Sol-Gel Technologies has a 52 week low of $6.12 and a 52 week high of $14.97. The firm has a market capitalization of $145.99 million, a P/E ratio of 55.08 and a beta of 1.17. The company has a 50-day simple moving average of $7.32 and a 200-day simple moving average of $7.79.

Sol-Gel Technologies (NASDAQ:SLGLGet Rating) last posted its quarterly earnings data on Wednesday, March 30th. The company reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.21. Sol-Gel Technologies had a net margin of 10.30% and a return on equity of 7.03%. Equities research analysts predict that Sol-Gel Technologies will post -0.62 earnings per share for the current year.

Large investors have recently bought and sold shares of the business. Susquehanna International Group LLP lifted its position in shares of Sol-Gel Technologies by 34.0% during the fourth quarter. Susquehanna International Group LLP now owns 16,862 shares of the company’s stock valued at $125,000 after purchasing an additional 4,275 shares in the last quarter. We Are One Seven LLC purchased a new position in Sol-Gel Technologies during the fourth quarter valued at approximately $74,000. Raymond James Financial Services Advisors Inc. grew its stake in Sol-Gel Technologies by 11.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 143,205 shares of the company’s stock valued at $1,064,000 after acquiring an additional 14,194 shares in the last quarter. Finally, Raymond James & Associates grew its stake in Sol-Gel Technologies by 14.1% during the third quarter. Raymond James & Associates now owns 36,608 shares of the company’s stock valued at $365,000 after acquiring an additional 4,519 shares in the last quarter. Institutional investors and hedge funds own 28.79% of the company’s stock.

Sol-Gel Technologies Company Profile (Get Rating)

Sol-Gel Technologies Ltd., a clinical stage specialty pharmaceutical company, focuses on developing and commercializing topical dermatological drug products based on its proprietary microencapsulation delivery system in Israel. The company's lead product candidates include Twyneo, a novel, once-daily, non-antibiotic topical cream which has completed Phase III clinical trials for the treatment of acne vulgaris; Epsolay, a once-daily topical cream that has completed Phase III clinical trials for the treatment of papulopustular rosacea; SGT-210, which is in Phase I clinical trial for the treatment of palmoplantar keratoderma; and Erlotinib, Tapinarof, and roflumilast to treat psoriasis and other medical conditions.

Further Reading

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