Sol-Gel Technologies (NASDAQ:SLGL) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Sol-Gel Technologies from “hold” to “strong buy,” while other analysts largely remain positive. The stock has a consensus “buy” rating and an average price target of $197.50, though ratings range from “strong buy” to “sell.”
• SLGL shares fell $4.45 to $64.25 during Thursday trading, with a market capitalization of approximately $210 million. The stock has traded between $28.81 and $97.97 over the past year.
• The company reported better-than-expected quarterly results, posting an EPS loss of $1.13 versus the $2.36 expected and revenue of $0.59 million versus the $0.07 million consensus. Insider and institutional activity was also notable, including purchases by Opaleye Management and Affinity Asset Advisors.

Sol-Gel Technologies (NASDAQ:SLGL - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Thursday, Zacks reports.

Several other analysts also recently weighed in on SLGL. Mizuho initiated coverage on Sol-Gel Technologies in a research note on Wednesday, June 24th. They set an "outperform" rating and a $285.00 target price on the stock. Cantor Fitzgerald initiated coverage on Sol-Gel Technologies in a research report on Wednesday. They set an "overweight" rating for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Sol-Gel Technologies in a research report on Tuesday, September 1st. Finally, HC Wainwright reiterated a "buy" rating on shares of Sol-Gel Technologies in a report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Sol-Gel Technologies currently has a consensus rating of "Buy" and an average price target of $197.50.

Sol-Gel Technologies Price Performance

Shares of SLGL stock traded down $4.45 during mid-day trading on Thursday, hitting $64.25. The stock had a trading volume of 69,824 shares, compared to its average volume of 41,643. The firm has a market cap of $210.10 million, a PE 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 company's 50-day simple moving average is $71.35 and its 200-day simple moving average is $74.04.

Sol-Gel Technologies (NASDAQ:SLGL - Get Free Report) last issued its quarterly earnings data 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 return on equity of 44.05% and a negative net margin of 910.14%. On average, analysts expect that Sol-Gel Technologies will post -5.37 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Opaleye Management Inc. acquired 35,113 shares of the company's stock in a transaction that occurred on Friday, August 28th. The stock was acquired at an average price of $69.32 per share, with a total value of $2,434,033.16. Following the purchase, the insider directly owned 520,000 shares in the company, valued at approximately $36,046,400. This trade represents a 7.24% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders bought a total of 53,430 shares of company stock worth $3,684,739 over the last three months. 66.51% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Sol-Gel Technologies stock. Affinity Asset Advisors LLC acquired a new stake in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 35,000 shares of the company's stock, valued at approximately $2,773,000. Affinity Asset Advisors LLC owned approximately 1.25% of Sol-Gel Technologies at the end of the most recent quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.