Sol-Gel Technologies (NASDAQ:SLGL) Upgraded by Wall Street Zen to Buy Rating

Sol-Gel Technologies (NASDAQ:SLGL) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

A number of other equities research analysts have also weighed in on the company. HC Wainwright restated a “buy” rating and set a $110.00 price objective (up from $50.00) on shares of Sol-Gel Technologies in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Sol-Gel Technologies in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $110.00.

Sol-Gel Technologies Price Performance

NASDAQ:SLGL opened at $72.97 on Friday. The firm has a 50-day moving average of $74.21 and a two-hundred day moving average of $49.75. The stock has a market cap of $203.59 million, a P/E ratio of -32.72 and a beta of 1.30. Sol-Gel Technologies has a 1-year low of $4.02 and a 1-year high of $97.97.

Sol-Gel Technologies (NASDAQ:SLGL) last announced its earnings results on Thursday, March 19th. The company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($1.46). Sol-Gel Technologies had a negative return on equity of 23.54% and a negative net margin of 31.60%.The business had revenue of $0.70 million for the quarter, compared to analysts’ expectations of $6.50 million. As a group, equities analysts expect that Sol-Gel Technologies will post -0.28 earnings per share for the current year.

Insider Buying and Selling

In other Sol-Gel Technologies news, major shareholder Opaleye Management Inc. acquired 1,151 shares of Sol-Gel Technologies stock in a transaction dated Friday, January 23rd. The stock was bought at an average price of $55.98 per share, for a total transaction of $64,432.98. Following the transaction, the insider owned 449,844 shares in the company, valued at approximately $25,182,267.12. This trade represents a 0.26% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have bought 72,633 shares of company stock valued at $3,096,495 in the last quarter. 66.51% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sol-Gel Technologies

An institutional investor recently raised its position in Sol-Gel Technologies stock. Opaleye Management Inc. increased its stake in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL) by 121.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 453,739 shares of the company’s stock after purchasing an additional 248,904 shares during the quarter. Sol-Gel Technologies makes up approximately 2.5% of Opaleye Management Inc.’s portfolio, making the stock its 9th largest position. Opaleye Management Inc. owned about 16.29% of Sol-Gel Technologies worth $19,121,000 as of its most recent SEC filing. Hedge funds and other institutional investors 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.