Soligenix Inc. (NASDAQ:SNGX) Issues Quarterly Earnings Results
Soligenix Inc. (NASDAQ:SNGX) posted its quarterly earnings results on Friday. The biopharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by $0.09, Bloomberg Earnings reports. Soligenix had a negative net margin of 41.74% and a negative return on equity of 102.83%. The business had revenue of $1 million for the quarter, compared to analysts’ expectations of $1.43 million.
Shares of Soligenix (SNGX) traded down 9.13% during trading on Friday, hitting $2.04. 128,611 shares of the stock traded hands. The stock’s market cap is $11.57 million. Soligenix has a 12 month low of $1.90 and a 12 month high of $8.50. The firm’s 50-day moving average price is $2.25 and its 200-day moving average price is $2.44.
Several analysts have issued reports on SNGX shares. Maxim Group set a $4.00 price target on shares of Soligenix and gave the company a “buy” rating in a research report on Wednesday, May 3rd. HC Wainwright started coverage on shares of Soligenix in a research report on Monday, July 17th. They set a “buy” rating for the company.
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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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