Sol-Gel Technologies (NASDAQ:SLGL) Given Buy Rating at HC Wainwright

Key Points

• HC Wainwright reaffirmed its Buy rating on Sol-Gel Technologies and set a $110 price target, implying 71.21% upside from the stock’s $64.25 opening price.
• Analyst sentiment is broadly positive, with a consensus Buy rating and average price target of $197.50, though Weiss Ratings maintains a Sell rating.
• Sol-Gel reported a better-than-expected quarterly loss and revenue, while insiders purchased additional shares; however, the company remains unprofitable, with a projected full-year loss of $5.37 per share.

Sol-Gel Technologies (NASDAQ:SLGL - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at HC Wainwright in a research report issued on Monday, Benzinga reports. They currently have a $110.00 target price on the stock. HC Wainwright's price target suggests a potential upside of 71.21% from the company's current price.

Several other analysts have also issued reports on SLGL. Mizuho started coverage on shares of Sol-Gel Technologies in a research report on Wednesday, June 24th. They set an "outperform" rating and a $285.00 price target for the company. Cantor Fitzgerald assumed coverage on Sol-Gel Technologies in a report on Wednesday, October 14th. They issued an "overweight" rating on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Sol-Gel Technologies in a research note on Tuesday, September 1st. Finally, Zacks Research upgraded Sol-Gel Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $197.50.

Sol-Gel Technologies Stock Performance

Shares of SLGL opened at $64.25 on Monday. The firm has a market cap of $210.10 million, a price-to-earnings ratio of -11.39 and a beta of 1.14. Sol-Gel Technologies has a fifty-two week low of $28.81 and a fifty-two week high of $97.97. The firm has a 50 day moving average price of $71.35 and a 200-day moving average price of $74.08.

Sol-Gel Technologies (NASDAQ:SLGL - Get Free Report) last announced its quarterly earnings data on Friday, August 21st. The company reported ($1.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($2.36) by $1.23. Sol-Gel Technologies had a negative net margin of 910.14% and a negative return on equity of 44.05%. The company had revenue of $0.59 million during the quarter, compared to analysts' expectations of $0.08 million. As a group, equities research analysts predict that Sol-Gel Technologies will post -5.37 earnings per share for the current year.

Insider Activity

In other news, major shareholder Opaleye Management Inc. acquired 35,113 shares of the stock in a transaction dated Friday, August 28th. The stock was purchased at an average cost of $69.32 per share, with a total value of $2,434,033.16. Following the completion of the purchase, the insider owned 520,000 shares in the company, valued at approximately $36,046,400. The trade was a 7.24% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought a total of 53,430 shares of company stock valued at $3,684,739 in the last 90 days. 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. acquired a new stake in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 5,785 shares of the company's stock, valued at approximately $429,000. Navellier & Associates Inc. owned 0.21% of Sol-Gel Technologies at the end of the most recent quarter. Institutional investors own 26.18% of the company's stock.

Sol-Gel Technologies Company Profile

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.