Zacks Reiterates “Outperform” Rating for Soligenix (SNGX)
Soligenix (NASDAQ:SNGX)‘s stock had its “outperform” rating reiterated by Zacks in a report issued on Monday, American Banking and Market News reports. They currently have a $4.50 price objective on the stock. Zacks‘ price objective points to a potential upside of 112.26% from the company’s current price.
Zacks‘ analyst wrote, “SNGX is a development stage biopharmaceutical company focused on cancer supportive care, GI disorders and biodefense. Based on three platform technologies, SNGX has built a diversified pipeline targeting multiple indications. We are optimistic about its lead candidate SGX942 for the treatment of oral mucositis. SGX942 is in Phase II studies. The Company’s oral BDP is in various development stages for a variety of indications, most notably, in pediatric Crohn’s disease, where they will be initiating a Phase II/III study in 1H14. SNGX also is developing vaccines using its ThermoVax technology for biodefense. Valuation is attractive at this time based on the fundamentals. We rate the shares Outperform. “
Shares of Soligenix (NASDAQ:SNGX) traded up 6.00% on Monday, hitting $2.12. The stock had a trading volume of 35,627 shares. Soligenix has a one year low of $0.86 and a one year high of $2.50. The stock’s 50-day moving average is $2.1 and its 200-day moving average is $1.96. The company’s market cap is $40.6 million.
Soligenix, Inc is a late-stage research and development biopharmaceutical company focused on developing products to treat the life-threatening side effects of cancer treatment and serious gastrointestinal diseases where there remains an unmet medical need, as well as developing biodefense vaccines and therapeutics.
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