Sol Gel Technologies (NASDAQ:SLGL) Upgraded at Zacks Investment Research

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Zacks Investment Research upgraded shares of Sol Gel Technologies (NASDAQ:SLGL) from a hold rating to a buy rating in a research note issued to investors on Tuesday, Zacks.com reports. Zacks Investment Research currently has $8.75 target price on the stock.

According to Zacks, “Sol-Gel Technologies Ltd.is a clinical-stage dermatology company. It focused on identifying, developing and commercializing branded and generic topical drug products for the treatment of skin diseases. Its product candidates include VERED for the treatment of papulopustular rosacea, TWIN and SIRS-T for the treatment of acne vulgaris, which are in its clinical stage. Sol-Gel Technologies Ltd.is based in Israel. “

Several other equities analysts also recently weighed in on SLGL. ValuEngine downgraded shares of Sol Gel Technologies from a hold rating to a sell rating in a report on Friday, October 4th. HC Wainwright raised their target price on shares of Sol Gel Technologies from $21.00 to $23.00 and gave the company a buy rating in a report on Tuesday, July 9th.

NASDAQ:SLGL traded down $0.46 during mid-day trading on Tuesday, hitting $7.68. 1,465 shares of the company’s stock traded hands, compared to its average volume of 6,779. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.00 and a current ratio of 8.00. The firm’s 50 day simple moving average is $8.42 and its 200 day simple moving average is $8.47. Sol Gel Technologies has a 1 year low of $5.41 and a 1 year high of $11.36. The company has a market cap of $154.01 million, a PE ratio of -4.27 and a beta of 0.64.

Sol Gel Technologies (NASDAQ:SLGL) last posted its earnings results on Tuesday, August 13th. The company reported ($0.26) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.32) by $0.06. Sol Gel Technologies had a negative net margin of 300.12% and a negative return on equity of 67.88%. The firm had revenue of $7.79 million during the quarter, compared to the consensus estimate of $7.00 million. On average, research analysts expect that Sol Gel Technologies will post -0.99 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in SLGL. Delek Group Ltd. boosted its stake in shares of Sol Gel Technologies by 5.2% during the 2nd quarter. Delek Group Ltd. now owns 1,545,497 shares of the company’s stock worth $13,750,000 after purchasing an additional 76,585 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of Sol Gel Technologies during the 2nd quarter worth about $70,000. BlackRock Inc. boosted its stake in shares of Sol Gel Technologies by 104.6% during the 2nd quarter. BlackRock Inc. now owns 10,753 shares of the company’s stock worth $98,000 after purchasing an additional 5,497 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Sol Gel Technologies by 4.9% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 62,948 shares of the company’s stock worth $573,000 after purchasing an additional 2,961 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Sol Gel Technologies by 12.8% during the 2nd quarter. Invesco Ltd. now owns 13,052 shares of the company’s stock worth $119,000 after purchasing an additional 1,483 shares during the last quarter. 19.88% of the stock is currently owned by institutional investors.

Sol Gel Technologies Company Profile

Sol-Gel Technologies Ltd., a clinical-stage specialty pharmaceutical company, focuses on developing and commercializing topical dermatological drug products based on its proprietary microencapsulation delivery system in Israel. The company's lead product candidates include TWIN and SIRS-T, which has completed Phase II clinical trials for the treatment of acne vulgaris; and VERED that has completed Phase II clinical trials for the treatment of papulopustular rosacea.

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