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

HC Wainwright restated their buy rating on shares of Sol-Gel Technologies (NASDAQ:SLGL) in a report released on Monday,Benzinga reports. They currently have a $50.00 price target on the stock.

A number of other analysts have also recently commented on the stock. Zacks Research raised shares of Sol-Gel Technologies to a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Sol-Gel Technologies in a research report on Tuesday, December 16th. Finally, Wall Street Zen cut Sol-Gel Technologies from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $50.00.

Sol-Gel Technologies Stock Performance

Sol-Gel Technologies stock opened at $42.16 on Monday. Sol-Gel Technologies has a one year low of $4.02 and a one year high of $52.26. The stock has a fifty day moving average of $38.37 and a 200 day moving average of $24.92. The stock has a market cap of $117.63 million, a PE ratio of -12.93 and a beta of 1.35.

Sol-Gel Technologies (NASDAQ:SLGL) last released its quarterly earnings results on Thursday, November 20th. The company reported ($2.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.09) by ($0.04). Sol-Gel Technologies had a negative net margin of 47.37% and a negative return on equity of 33.61%. The firm had revenue of $0.40 million for the quarter, compared to the consensus estimate of $0.30 million. As a group, sell-side analysts predict that Sol-Gel Technologies will post -0.28 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Opaleye Management Inc. acquired 2,735 shares of Sol-Gel Technologies stock in a transaction on Wednesday, December 17th. The shares were bought at an average cost of $40.37 per share, with a total value of $110,411.95. Following the completion of the purchase, the insider directly owned 374,530 shares of the company’s stock, valued at $15,119,776.10. The trade was a 0.74% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders purchased 9,599 shares of company stock worth $368,030 over the last quarter. Insiders own 66.51% 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.