Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Given Average Rating of “Moderate Buy” by Analysts

Shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $197.50.

Several research firms have issued reports on SLGL. 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 “sell (d+)” rating to a “sell (d-)” rating in a research note on Thursday, June 4th. HC Wainwright reaffirmed a “buy” rating and set a $110.00 target price on shares of Sol-Gel Technologies in a report on Monday. TD Cowen assumed coverage on Sol-Gel Technologies in a report on Friday, May 29th. They set a “buy” rating for the company. Finally, Lifesci Capital upgraded shares of Sol-Gel Technologies to a “strong-buy” rating in a research report on Friday, May 15th.

Insider Activity

In other Sol-Gel Technologies news, major shareholder Opaleye Management Inc. acquired 1,400 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was bought at an average price of $71.97 per share, with a total value of $100,758.00. Following the completion of the purchase, the insider owned 491,712 shares of the company’s stock, valued at approximately $35,388,512.64. This represents a 0.29% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders acquired a total of 5,678 shares of company stock valued at $393,758 in the last quarter. Company insiders own 66.51% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Yelin Lapidot Holdings Management Ltd. bought a new position in shares of Sol-Gel Technologies in the 4th quarter worth $748,000. Affinity Asset Advisors LLC bought a new position in Sol-Gel Technologies in the first quarter valued at $2,773,000. Finally, Opaleye Management Inc. raised its position in Sol-Gel Technologies by 121.5% during 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 in the last quarter. Hedge funds and other institutional investors own 26.18% of the company’s stock.

Sol-Gel Technologies Stock Down 6.1%

Shares of NASDAQ:SLGL opened at $84.30 on Friday. The firm has a market capitalization of $236.88 million, a PE ratio of -247.93 and a beta of 1.12. The company has a 50-day moving average price of $74.45 and a two-hundred day moving average price of $73.29. Sol-Gel Technologies has a twelve month low of $9.17 and a twelve month high of $97.97.

Sol-Gel Technologies (NASDAQ:SLGL) last posted its quarterly earnings results on Thursday, May 28th. The company reported ($1.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.86) by $1.55. Sol-Gel Technologies had a negative net margin of 5.66% and a negative return on equity of 3.17%. The company had revenue of $0.11 million for the quarter, compared to analyst estimates of $0.90 million. Analysts anticipate that Sol-Gel Technologies will post -9.1 earnings per share for the current fiscal year.

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.