Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Receives $197.50 Consensus Target Price from Analysts

Shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL) have received a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $197.50.

Several brokerages have issued reports on SLGL. TD Cowen started coverage on shares of Sol-Gel Technologies in a research note on Friday, May 29th. They set a “buy” rating on the stock. Lifesci Capital raised Sol-Gel Technologies to a “strong-buy” rating in a research report on Friday, May 15th. HC Wainwright reissued a “buy” rating and set a $110.00 price target on shares of Sol-Gel Technologies in a research report on Monday. Mizuho started coverage on Sol-Gel Technologies in a research note on Wednesday, June 24th. They issued an “outperform” rating and a $285.00 price objective for the company. Finally, Weiss Ratings lowered Sol-Gel Technologies from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Thursday, June 4th.

Insider Activity

In related news, major shareholder Opaleye Management Inc. purchased 1,400 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was acquired at an average cost of $71.97 per share, for a total transaction of $100,758.00. Following the completion of the acquisition, the insider owned 491,712 shares in the company, valued at $35,388,512.64. This trade represents a 0.29% 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 purchased 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

Several large investors have recently added to or reduced their stakes in the stock. Yelin Lapidot Holdings Management Ltd. acquired a new stake in shares of Sol-Gel Technologies during the 4th quarter valued at $748,000. Affinity Asset Advisors LLC purchased a new position in shares of Sol-Gel Technologies during the 1st quarter valued at $2,773,000. Finally, Opaleye Management Inc. increased its stake in shares of Sol-Gel Technologies by 121.5% in the fourth quarter. Opaleye Management Inc. now owns 453,739 shares of the company’s stock worth $19,121,000 after acquiring an additional 248,904 shares during the last quarter. Institutional investors and hedge funds own 26.18% of the company’s stock.

Sol-Gel Technologies Price Performance

Shares of SLGL opened at $80.10 on Friday. Sol-Gel Technologies has a one year low of $8.03 and a one year high of $97.97. The company has a 50-day moving average of $73.78 and a two-hundred day moving average of $72.66. The stock has a market cap of $225.08 million, a price-to-earnings ratio of -235.58 and a beta of 1.12.

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

About Sol-Gel Technologies

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.