Maxim Group Lowers NexGel (NASDAQ:NXGL) Price Target to $2.00

NexGel (NASDAQ:NXGL) had its price objective lowered by stock analysts at Maxim Group from $6.00 to $2.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Maxim Group’s price target indicates a potential upside of 140.67% from the company’s previous close.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of NexGel in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $2.00.

NexGel Stock Performance

Shares of NXGL stock opened at $0.83 on Thursday. NexGel has a 12-month low of $0.70 and a 12-month high of $3.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.69 and a quick ratio of 1.08. The firm has a market capitalization of $6.76 million, a price-to-earnings ratio of -2.25 and a beta of 0.62. The business has a 50 day simple moving average of $1.36 and a 200 day simple moving average of $1.87.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Flaharty Asset Management LLC bought a new position in shares of NexGel during the 3rd quarter valued at $59,000. Dimensional Fund Advisors LP acquired a new position in NexGel during the third quarter worth $26,000. Citadel Advisors LLC bought a new position in NexGel during the third quarter valued at about $67,000. Susquehanna International Group LLP bought a new position in NexGel during the third quarter valued at about $106,000. Finally, Jane Street Group LLC acquired a new stake in shares of NexGel in the fourth quarter worth about $47,000. Institutional investors and hedge funds own 2.21% of the company’s stock.

About NexGel

NexGel, Inc (NASDAQ: NXGL) is a development-stage materials science company focused on the research and commercialization of advanced polymer formulations tailored for additive manufacturing and 3D printing applications. Leveraging proprietary expertise in polymer chemistry, NexGel develops high-performance materials designed to meet rigorous mechanical, thermal, and chemical resistance requirements across diverse end markets.

The company’s product pipeline includes custom-engineered resins, powders and elastomeric systems optimized for a range of additive manufacturing processes, including selective laser sintering (SLS), stereolithography (SLA) and fused deposition modeling (FDM).