Sol-Gel Technologies (NASDAQ:SLGL) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Sol-Gel Technologies (NASDAQ:SLGL) in a report released on Monday morning, MarketBeat Ratings reports. HC Wainwright currently has a $110.00 target price on the stock.

A number of other equities research analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Lifesci Capital upgraded shares of Sol-Gel Technologies to a “strong-buy” rating in a report on Friday, May 15th. Mizuho assumed coverage on shares of Sol-Gel Technologies in a research note on Wednesday, June 24th. They issued an “outperform” rating and a $285.00 price target on the stock. TD Cowen assumed coverage on Sol-Gel Technologies in a report on Friday, May 29th. They set a “buy” rating for the company. Finally, Weiss Ratings lowered Sol-Gel Technologies from a “sell (d+)” rating to a “sell (d-)” rating in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $197.50.

Sol-Gel Technologies Price Performance

Shares of SLGL opened at $80.10 on Monday. The company has a market capitalization of $225.08 million, a price-to-earnings ratio of -235.58 and a beta of 1.12. Sol-Gel Technologies has a fifty-two week low of $8.03 and a fifty-two week high of $97.97. The business’s 50-day moving average is $73.78 and its 200-day moving average is $72.66.

Sol-Gel Technologies (NASDAQ:SLGL) last posted its quarterly earnings results on Thursday, May 28th. The company reported ($1.31) earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $0.90 million. Equities research analysts expect that Sol-Gel Technologies will post -9.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sol-Gel Technologies news, major shareholder Opaleye Management Inc. acquired 1,937 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were purchased at an average price of $66.87 per share, with a total value of $129,527.19. Following the completion of the transaction, the insider owned 488,437 shares in the company, valued at $32,661,782.19. The trade was a 0.40% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have purchased a total of 5,678 shares of company stock worth $393,758 over the last 90 days. 66.51% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Yelin Lapidot Holdings Management Ltd. bought a new stake in Sol-Gel Technologies in the fourth quarter worth $748,000. Affinity Asset Advisors LLC bought a new position in Sol-Gel Technologies during the first quarter valued at about $2,773,000. Finally, Opaleye Management Inc. lifted its position 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 buying 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 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.