HC Wainwright Reiterates “Buy” Rating for Sol-Gel Technologies (NASDAQ:SLGL)

Sol-Gel Technologies (NASDAQ:SLGL)‘s stock had its “buy” rating reiterated by HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $50.00 price objective on the stock. HC Wainwright’s price target indicates a potential upside of 15.82% from the stock’s previous close.

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

Sol-Gel Technologies Stock Performance

NASDAQ SLGL opened at $43.17 on Monday. The stock has a market cap of $120.44 million, a PE ratio of -13.24 and a beta of 1.36. The firm has a 50-day moving average of $38.44 and a 200-day moving average of $25.17. Sol-Gel Technologies has a 52-week low of $4.02 and a 52-week high of $52.26.

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

Insiders Place Their Bets

In other news, major shareholder Opaleye Management Inc. acquired 2,735 shares of Sol-Gel Technologies stock in a transaction on Wednesday, December 17th. The shares were purchased at an average cost of $40.37 per share, for a total transaction of $110,411.95. Following the completion of the purchase, the insider directly owned 374,530 shares of the company’s stock, valued at approximately $15,119,776.10. This represents a 0.74% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have bought a total of 9,599 shares of company stock worth $368,030 over the last three months. Corporate insiders own 66.51% of the company’s stock.

About Sol-Gel Technologies

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.