Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Stock Now Rated "Buy" by Wall Street Brokerages

Key Points

• Analysts broadly favor Sol-Gel Technologies: Seven analysts have issued a consensus “Buy” rating, with an average 12-month price target of $197.50. Ratings include four buys, two strong buys, and one sell.
• Quarterly results exceeded expectations: Sol-Gel reported a loss of $1.13 per share versus the $2.36 consensus loss estimate, while revenue of $0.59 million surpassed the $0.07 million forecast. The company remains unprofitable, with a negative net margin of 910.14%.
• Insider ownership and buying are notable: Insiders own 66.51% of the stock and purchased 53,430 shares worth approximately $3.68 million over the past 90 days. Institutional ownership stands at 26.18%.

Shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL - Get Free Report) have received a consensus recommendation of "Buy" from the seven analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $197.50.

SLGL has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Sol-Gel Technologies in a research report on Tuesday, September 1st. Cantor Fitzgerald began coverage on shares of Sol-Gel Technologies in a research report on Wednesday, October 14th. They issued an "overweight" rating for the company. HC Wainwright reissued a "buy" rating and issued a $110.00 price target on shares of Sol-Gel Technologies in a research report on Monday, October 19th. Finally, Zacks Research upgraded shares of Sol-Gel Technologies from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 15th.

Sol-Gel Technologies Price Performance

Shares of SLGL opened at $69.45 on Monday. The stock has a 50 day moving average price of $69.96 and a 200 day moving average price of $73.64. The company has a market capitalization of $227.10 million, a price-to-earnings ratio of -12.31 and a beta of 1.14. Sol-Gel Technologies has a 52-week low of $28.81 and a 52-week high of $97.97.

Sol-Gel Technologies (NASDAQ:SLGL - Get Free Report) last announced its quarterly earnings results on Friday, August 21st. The company reported ($1.13) EPS for the quarter, beating the consensus estimate of ($2.36) by $1.23. The company had revenue of $0.59 million for the quarter, compared to analyst estimates 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, equities analysts anticipate that Sol-Gel Technologies will post -5.37 EPS for the current fiscal year.

Insider Activity at Sol-Gel Technologies

In other news, major shareholder Opaleye Management Inc. bought 1,493 shares of Sol-Gel Technologies stock in a transaction dated Friday, September 11th. The stock was acquired at an average cost of $65.94 per share, with a total value of $98,448.42. Following the acquisition, the insider owned 540,000 shares of the company's stock, valued at approximately $35,607,600. This trade represents a 0.28% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders bought a total of 53,430 shares of company stock worth $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. Affinity Asset Advisors LLC purchased a new stake in Sol-Gel Technologies Ltd. (NASDAQ:SLGL - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 35,000 shares of the company's stock, valued at approximately $2,773,000. Affinity Asset Advisors LLC owned about 1.25% of Sol-Gel Technologies at the end of the most recent reporting period. 26.18% of the stock is currently owned by hedge funds and other institutional investors.

Sol-Gel Technologies Company Profile

Sol-Gel Technologies Ltd. is a dermatology-focused specialty pharmaceutical company based in Israel. The company develops and commercializes topical prescription medicines for common skin conditions, using proprietary delivery technologies designed to improve the stability, tolerability, and effectiveness of active pharmaceutical ingredients.

Its marketed products include Epsolay, a topical benzoyl peroxide cream indicated for the treatment of inflammatory lesions associated with rosacea, and Twyneo, a fixed-dose topical combination of tretinoin and benzoyl peroxide for acne vulgaris.

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