Sol-Gel Technologies (NASDAQ:SLGL) Releases Earnings Results, Beats Estimates By $0.35 EPS

Key Points

• Sol-Gel Technologies beat EPS estimates, reporting a quarterly loss of $1.72 per share versus the expected loss of $2.07, but revenue of $0.04 million fell short of the $0.15 million consensus.
• The stock fell 12% to $55.82 on Thursday, despite the earnings beat.
• Analyst sentiment is mostly positive: the stock has a consensus “Buy” rating and a $197.50 target price, while insiders bought 53,430 shares during the last quarter.

Sol-Gel Technologies (NASDAQ:SLGL - Get Free Report) released its quarterly earnings results on Thursday. The company reported ($1.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.07) by $0.35, FiscalAI reports. Sol-Gel Technologies had a negative return on equity of 44.05% and a negative net margin of 910.14%. The company had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.15 million.

Sol-Gel Technologies Stock Down 12.0%

SLGL traded down $7.58 during trading on Thursday, reaching $55.82. 15,358 shares of the company's stock were exchanged, compared to its average volume of 40,606. Sol-Gel Technologies has a fifty-two week low of $28.81 and a fifty-two week high of $97.97. The company has a market capitalization of $182.52 million, a P/E ratio of -9.90 and a beta of 1.25. The business has a 50 day moving average price of $67.23 and a 200 day moving average price of $73.85.

Insider Buying and Selling at Sol-Gel Technologies

In other Sol-Gel Technologies news, major shareholder Opaleye Management Inc. bought 1,493 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were acquired at an average price of $65.94 per share, with a total value of $98,448.42. Following the completion of the purchase, the insider directly owned 540,000 shares in the company, valued at $35,607,600. The trade was 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 quarter, insiders have bought 53,430 shares of company stock worth $3,684,739. 66.51% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SLGL. Cantor Fitzgerald began coverage on Sol-Gel Technologies in a research note on Wednesday, October 14th. They issued an "overweight" rating on the stock. HC Wainwright restated a "buy" rating and issued a $110.00 price target on shares of Sol-Gel Technologies in a research report on Monday, October 19th. Weiss Ratings restated a "sell (d-)" rating on shares of Sol-Gel Technologies in a report on Tuesday, September 1st. Finally, Zacks Research upgraded shares of Sol-Gel Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $197.50.

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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