Sol-Gel Technologies’ (SLGL) “Buy” Rating Reiterated at HC Wainwright

Sol-Gel Technologies (NASDAQ:SLGL)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $50.00 price target on the stock. HC Wainwright’s price objective points to a potential upside of 18.60% from the company’s current price.

A number of other research firms have also recently commented on SLGL. Weiss Ratings reiterated a “hold (c)” rating on shares of Sol-Gel Technologies in a report on Tuesday, December 16th. Wall Street Zen downgraded Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Zacks Research raised Sol-Gel Technologies to a “hold” rating in a research note on Tuesday, October 28th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $50.00.

Sol-Gel Technologies Trading Down 1.4%

Shares of SLGL opened at $42.16 on Monday. Sol-Gel Technologies has a 12-month low of $4.02 and a 12-month high of $52.26. The firm has a market capitalization of $117.63 million, a P/E ratio of -12.93 and a beta of 1.36. The firm has a 50-day moving average price of $38.33 and a 200 day moving average price of $24.67.

Sol-Gel Technologies (NASDAQ:SLGL) last issued its earnings results on Thursday, November 20th. The company reported ($2.13) EPS for the quarter, missing analysts’ consensus estimates of ($2.09) by ($0.04). The firm had revenue of $0.40 million for the quarter, compared to analysts’ expectations of $0.30 million. Sol-Gel Technologies had a negative return on equity of 33.61% and a negative net margin of 47.37%. Equities research analysts predict that Sol-Gel Technologies will post -0.28 earnings per share for the current fiscal year.

Insider Activity at Sol-Gel Technologies

In other news, major shareholder Opaleye Management Inc. purchased 4,340 shares of the stock in a transaction dated Monday, December 1st. The stock was acquired at an average cost of $37.37 per share, for a total transaction of $162,185.80. Following the completion of the transaction, the insider directly owned 368,440 shares in the company, valued at approximately $13,768,602.80. This represents a 1.19% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders acquired 9,599 shares of company stock worth $368,030 in the last ninety days. Company insiders own 66.51% 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.