Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) has been given a consensus recommendation of “Moderate Buy” by the five brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $110.00.

A number of research firms recently issued reports on SLGL. Lifesci Capital raised Sol-Gel Technologies to a “strong-buy” rating in a research report on Friday, May 15th. Wall Street Zen downgraded Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings downgraded Sol-Gel Technologies from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, May 22nd. Finally, TD Cowen began coverage on Sol-Gel Technologies in a research report on Friday. They issued a “buy” rating on the stock.

Sol-Gel Technologies Price Performance

Shares of Sol-Gel Technologies stock opened at $73.73 on Friday. The firm has a market cap of $207.18 million, a price-to-earnings ratio of -216.85 and a beta of 1.13. The stock’s 50-day moving average is $73.51 and its 200-day moving average is $64.06. Sol-Gel Technologies has a one year low of $6.80 and a one year high of $97.97.

Sol-Gel Technologies (NASDAQ:SLGL) last issued its quarterly earnings results on Thursday, May 28th. The company reported ($1.31) EPS for the quarter, beating analysts’ consensus estimates of ($2.86) by $1.55. The company had revenue of $0.11 million for the quarter, compared to analyst estimates of $0.90 million. Sol-Gel Technologies had a negative return on equity of 3.17% and a negative net margin of 5.66%. On average, equities analysts expect that Sol-Gel Technologies will post -13.03 EPS for the current year.

Insiders Place Their Bets

In other Sol-Gel Technologies news, major shareholder Opaleye Management Inc. purchased 1,937 shares of the stock in a transaction on Wednesday, May 13th. The shares were purchased at an average price of $66.87 per share, with a total value of $129,527.19. Following the completion of the transaction, the insider directly owned 488,437 shares in the company, valued at $32,661,782.19. This represents a 0.40% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 66.51% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sol-Gel Technologies

A number of institutional investors have recently bought and sold shares of the business. Yelin Lapidot Holdings Management Ltd. bought a new stake in Sol-Gel Technologies during the fourth quarter worth $748,000. Affinity Asset Advisors LLC acquired a new position in shares of Sol-Gel Technologies during the first quarter worth $2,773,000. Finally, Opaleye Management Inc. increased its holdings in Sol-Gel Technologies by 121.5% in the fourth quarter. Opaleye Management Inc. now owns 453,739 shares of the company’s stock valued at $19,121,000 after purchasing an additional 248,904 shares during the period. Institutional investors and hedge funds own 26.18% 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.