Maxim Group Reaffirms “Buy” Rating for Soligenix Inc. (SNGX)
Soligenix Inc. (NASDAQ:SNGX)‘s stock had its “buy” rating restated by analysts at Maxim Group in a research note issued to investors on Monday. They currently have a $4.00 price target on the biopharmaceutical company’s stock. Maxim Group’s price objective indicates a potential upside of 98.02% from the stock’s current price.
The analysts wrote, “Soligenix announced long-term follow-up data from the P2 study of SGX942 in oral mucositis (in head and neck cancer) has been published in the journal Biotechnology Reports” (PUBLICATION LINK).””
Soligenix (SNGX) traded up 9.0495% on Monday, hitting $2.2028. The stock had a trading volume of 38,173 shares. Soligenix has a 1-year low of $2.09 and a 1-year high of $14.40. The stock has a 50 day moving average price of $2.49 and a 200 day moving average price of $2.60. The company’s market cap is $12.49 million.
Soligenix (NASDAQ:SNGX) last released its quarterly earnings data on Thursday, May 11th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by $0.02. The business had revenue of $1.30 million during the quarter. Soligenix had a negative net margin of 41.74% and a negative return on equity of 102.83%. On average, equities research analysts expect that Soligenix will post ($0.63) EPS for the current fiscal year.
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In related news, major shareholder Randal J. Kirk sold 160,968 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $3.12, for a total value of $502,220.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 6.09% of the company’s stock.
Soligenix, Inc is a late-stage biopharmaceutical company. The Company is focused on developing and commercializing products to treat rare diseases. The Company operates through two segments: BioTherapeutics and Vaccines/BioDefense. Its BioTherapeutics segment is developing a photodynamic therapy (SGX301) utilizing topical synthetic hypericin activated with safe visible light for the treatment of cutaneous T-cell lymphoma (CTCL), formulations of oral beclomethasone 17,21-dipropionate (BDP) for the prevention/treatment of gastrointestinal (GI) disorders characterized by severe inflammation, and its innate defense regulator (IDR) technology, dusquetide (SGX942) for the treatment of oral mucositis in head and neck cancer.
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