Sol-Gel Technologies (NASDAQ:SLGL) Now Covered by Analysts at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald initiated coverage of Sol-Gel Technologies with an “overweight” rating. Across analysts, the stock holds a “Moderate Buy” consensus rating with an average target price of $197.50.
• SLGL shares opened at $68.30, down 5.7%, while the company reported a quarterly loss of $1.13 per share—better than the expected $2.36 loss—and revenue of $0.59 million.
• Insiders have been net buyers, acquiring 53,430 shares worth approximately $3.7 million over the past 90 days; insiders own 66.51% of the company, compared with 26.18% held by institutional investors.

Analysts at Cantor Fitzgerald assumed coverage on shares of Sol-Gel Technologies (NASDAQ:SLGL - Get Free Report) in a report released on Wednesday, MarketBeat.com reports. The firm set an "overweight" rating on the stock.

Other equities analysts have also recently issued research reports about the company. Mizuho initiated coverage on Sol-Gel Technologies in a research report on Wednesday, June 24th. They set an "outperform" rating and a $285.00 target price on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Sol-Gel Technologies in a report on Tuesday, September 1st. Finally, HC Wainwright reissued a "buy" rating on shares of Sol-Gel Technologies in a report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $197.50.

Sol-Gel Technologies Stock Down 5.7%

Shares of NASDAQ:SLGL opened at $68.30 on Wednesday. Sol-Gel Technologies has a fifty-two week low of $28.81 and a fifty-two week high of $97.97. The firm's 50-day simple moving average is $72.56 and its 200-day simple moving average is $74.24. The company has a market cap of $223.34 million, a price-to-earnings ratio of -12.11 and a beta of 1.14.

Sol-Gel Technologies (NASDAQ:SLGL - Get Free Report) last posted its quarterly earnings results on Friday, August 21st. The company reported ($1.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.36) by $1.23. The firm had revenue of $0.59 million during the quarter, compared to analysts' expectations of $0.07 million. Sol-Gel Technologies had a negative net margin of 910.14% and a negative return on equity of 44.05%. On average, research analysts forecast that Sol-Gel Technologies will post -4.95 EPS for the current year.

Insider Activity at Sol-Gel Technologies

In related news, major shareholder Opaleye Management Inc. purchased 1,493 shares of the stock in a transaction dated Friday, September 11th. The shares were acquired at an average cost of $65.94 per share, with a total value of $98,448.42. Following the purchase, the insider directly owned 540,000 shares in the company, valued at $35,607,600. This trade represents a 0.28% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have acquired 53,430 shares of company stock worth $3,684,739. 66.51% of the stock is currently owned by insiders.

Institutional Trading of Sol-Gel Technologies

An institutional investor recently bought a new position in Sol-Gel Technologies stock. Navellier & Associates Inc. purchased a new position in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,785 shares of the company's stock, valued at approximately $429,000. Navellier & Associates Inc. owned approximately 0.21% of Sol-Gel Technologies at the end of the most recent reporting period. Institutional investors own 26.18% of the company's stock.

About Sol-Gel Technologies

Sol-Gel Technologies Ltd. NASDAQ: SLGL is an Israeli specialty pharmaceutical company focused on developing and commercializing topical dermatological treatments. The company uses proprietary silica-based microsponge technology designed to encapsulate and gradually release active pharmaceutical ingredients in the skin.

Its marketed products include TWYNEO, a topical cream combining tretinoin and benzoyl peroxide for the treatment of acne vulgaris, and EPSOLAY, a topical benzoyl peroxide cream for the treatment of inflammatory lesions associated with rosacea.

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