Sol-Gel Technologies (NASDAQ:SLGL) Upgraded to Buy at Wall Street Zen

Sol-Gel Technologies (NASDAQ:SLGL) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Several other equities research analysts have also weighed in on the company. HC Wainwright restated a “buy” rating and issued a $110.00 target price (up from $50.00) on shares of Sol-Gel Technologies in a report on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Sol-Gel Technologies in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Sol-Gel Technologies has an average rating of “Hold” and a consensus price target of $110.00.

Sol-Gel Technologies Trading Down 10.7%

NASDAQ SLGL opened at $72.97 on Friday. Sol-Gel Technologies has a 1-year low of $4.02 and a 1-year high of $97.97. The company has a market capitalization of $203.59 million, a PE ratio of -32.72 and a beta of 1.30. The firm’s fifty day simple moving average is $74.21 and its 200-day simple moving average is $49.75.

Sol-Gel Technologies (NASDAQ:SLGL) last announced its quarterly earnings data on Thursday, March 19th. The company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($1.46). The firm had revenue of $0.70 million for the quarter, compared to analysts’ expectations of $6.50 million. Sol-Gel Technologies had a negative return on equity of 23.54% and a negative net margin of 31.60%. As a group, analysts predict that Sol-Gel Technologies will post -0.28 EPS for the current year.

Insider Activity at Sol-Gel Technologies

In related news, major shareholder Opaleye Management Inc. acquired 1,151 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The shares were acquired at an average cost of $55.98 per share, for a total transaction of $64,432.98. Following the completion of the acquisition, the insider directly owned 449,844 shares in the company, valued at approximately $25,182,267.12. The trade was a 0.26% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders bought a total of 72,633 shares of company stock worth $3,096,495 over the last quarter. Company insiders own 66.51% of the company’s stock.

Institutional Trading of Sol-Gel Technologies

An institutional investor recently bought a new position in Sol-Gel Technologies stock. Yelin Lapidot Holdings Management Ltd. acquired a new position in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 17,753 shares of the company’s stock, valued at approximately $748,000. Yelin Lapidot Holdings Management Ltd. owned 0.64% of Sol-Gel Technologies at the end of the most recent reporting period. 26.18% of the stock is owned by institutional investors.

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.