Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Sol-Gel Technologies has a consensus analyst rating of “Moderate Buy”, based on coverage from six firms. The average 12-month price target is $197.50, with ratings split between one sell, one hold, three buys, and one strong buy.
• The stock was up 6.6% and opened at $83.20, near its 50-day and 200-day moving averages. It has traded between a 12-month low of $8.02 and a high of $97.97.
• In its latest quarterly report, the company posted EPS of -$1.31, which beat expectations, though revenue came in below estimates at $0.11 million. Insider and institutional activity has also been notable, including a recent purchase by major shareholder Opaleye Management.

Shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the six research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $197.50.

Several equities research analysts have issued reports on the company. Lifesci Capital upgraded Sol-Gel Technologies to a "strong-buy" rating in a report on Friday, May 15th. TD Cowen started coverage on Sol-Gel Technologies in a research report on Friday, May 29th. They issued a "buy" rating for the company. Weiss Ratings cut Sol-Gel Technologies from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Thursday, June 4th. Mizuho assumed coverage on shares of Sol-Gel Technologies in a research note on Wednesday, June 24th. They issued an "outperform" rating and a $285.00 price target on the stock. Finally, Wall Street Zen cut shares of Sol-Gel Technologies from a "buy" rating to a "hold" rating in a report on Saturday, May 16th.

Sol-Gel Technologies Stock Up 6.6%

Shares of SLGL opened at $83.20 on Friday. The stock's fifty day simple moving average is $73.58 and its 200-day simple moving average is $72.20. The firm has a market capitalization of $233.79 million, a PE ratio of -244.70 and a beta of 1.12. Sol-Gel Technologies has a 12-month low of $8.02 and a 12-month high of $97.97.

Sol-Gel Technologies (NASDAQ:SLGL - Get Free Report) last issued its quarterly earnings results on Thursday, May 28th. The company reported ($1.31) EPS for the quarter, topping the consensus estimate of ($2.86) by $1.55. The company had revenue of $0.11 million during the quarter, compared to analysts' expectations of $0.90 million. Sol-Gel Technologies had a negative net margin of 5.66% and a negative return on equity of 3.17%. Analysts anticipate that Sol-Gel Technologies will post -9.1 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Opaleye Management Inc. acquired 1,400 shares of the business's stock in a transaction that occurred on Thursday, July 2nd. The shares were acquired at an average cost of $71.97 per share, with a total value of $100,758.00. Following the transaction, the insider owned 491,712 shares of the company's stock, valued at $35,388,512.64. The trade was a 0.29% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have acquired 5,678 shares of company stock valued at $393,758. Insiders own 66.51% of the company's stock.

Institutional Trading of Sol-Gel Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. Yelin Lapidot Holdings Management Ltd. bought a new stake in shares of Sol-Gel Technologies in the fourth quarter valued at about $748,000. Affinity Asset Advisors LLC bought a new position in shares of Sol-Gel Technologies during the first quarter worth about $2,773,000. Finally, Opaleye Management Inc. grew its holdings in shares of Sol-Gel Technologies by 121.5% during the fourth quarter. Opaleye Management Inc. now owns 453,739 shares of the company's stock worth $19,121,000 after buying an additional 248,904 shares in the last quarter. Institutional investors and hedge funds own 26.18% of the company's stock.

Sol-Gel Technologies Company Profile

Sol-Gel Technologies, Inc NASDAQ: SLGL is a U.S.-based advanced materials company specializing in the development and commercialization of nanostructured materials using proprietary sol-gel processes. Leveraging expertise in materials chemistry and thin-film deposition, the company focuses on the production of metal oxide powders, sols, coatings and functional inks designed to enhance performance in a variety of industrial and commercial applications.

The company's product portfolio includes corrosion- and abrasion-resistant coatings, dielectric and conductive films, catalyst supports and specialty fillers.

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