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

Sol-Gel Technologies (NASDAQ:SLGL)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research report issued on Monday, Marketbeat.com reports. They currently have a $110.00 price objective on the stock. HC Wainwright’s price objective points to a potential upside of 22.58% from the stock’s previous close.

A number of other analysts also recently weighed in on SLGL. Mizuho started coverage on shares of Sol-Gel Technologies in a research report on Wednesday, June 24th. They issued an “outperform” rating and a $285.00 price target on the stock. Weiss Ratings cut shares of Sol-Gel Technologies from a “sell (d+)” rating to a “sell (d-)” rating in a report on Thursday, June 4th. Wall Street Zen downgraded shares of Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. TD Cowen assumed coverage on shares of Sol-Gel Technologies in a report on Friday, May 29th. They issued a “buy” rating on the stock. Finally, Lifesci Capital raised shares of Sol-Gel Technologies to a “strong-buy” rating in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Sol-Gel Technologies presently has an average rating of “Moderate Buy” and an average price target of $197.50.

Sol-Gel Technologies Trading Up 12.0%

NASDAQ SLGL opened at $89.74 on Monday. Sol-Gel Technologies has a 12 month low of $8.60 and a 12 month high of $97.97. The stock has a 50-day simple moving average of $74.23 and a 200 day simple moving average of $73.00. The company has a market capitalization of $252.17 million, a PE ratio of -263.93 and a beta of 1.12.

Sol-Gel Technologies (NASDAQ:SLGL) last issued its earnings results on Thursday, May 28th. The company reported ($1.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.86) by $1.55. The firm had revenue of $0.11 million for the quarter, compared to analysts’ expectations of $0.90 million. Sol-Gel Technologies had a negative return on equity of 3.17% and a negative net margin of 5.66%. As a group, sell-side analysts predict that Sol-Gel Technologies will post -9.1 earnings per share for the current fiscal year.

Insider Activity

In other Sol-Gel Technologies news, major shareholder Opaleye Management Inc. acquired 1,937 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average cost of $66.87 per share, for a total transaction of $129,527.19. Following the transaction, the insider owned 488,437 shares of the company’s stock, valued at $32,661,782.19. This trade represents a 0.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders purchased 5,678 shares of company stock valued at $393,758. 66.51% of the stock is currently owned by insiders.

Institutional Trading of Sol-Gel Technologies

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

Sol-Gel Technologies Company Profile

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.