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

Key Points

• Sol-Gel Technologies has a “Moderate Buy” consensus rating among six analysts, with three buys, one strong buy, one hold and one sell. The average 12-month price target is $197.50, ranging from recent targets of $110 to $285.
• Insiders and institutional investors have shown buying interest: insiders purchased 2,241 shares over the past 90 days, while hedge funds and other institutions own 26.18% of the company. Major shareholder Opaleye Management increased its stake by 121.5% in the fourth quarter.
• SLGL opened at $77.92, near its 50-day moving average, with a market capitalization of about $219 million. The company reported a quarterly loss of $1.31 per share—better than estimates—but revenue of $0.11 million fell short of consensus expectations.

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

SLGL has been the subject of a number of recent research reports. Mizuho began 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. HC Wainwright reiterated a "buy" rating and issued a $110.00 price objective on shares of Sol-Gel Technologies in a research note on Monday, July 20th. Weiss Ratings cut shares of Sol-Gel Technologies from a "sell (d+)" rating to a "sell (d-)" rating in a report on Thursday, June 4th. TD Cowen began coverage on shares of Sol-Gel Technologies in a research report on Friday, May 29th. They set a "buy" rating for the company. Finally, Wall Street Zen lowered shares of Sol-Gel Technologies from a "buy" rating to a "hold" rating in a report on Saturday, May 16th.

Insider Activity

In related news, major shareholder Opaleye Management Inc. bought 1,400 shares of the stock in a transaction dated Thursday, July 2nd. The shares were purchased at an average price of $71.97 per share, for a total transaction of $100,758.00. Following the completion of the purchase, the insider directly owned 491,712 shares of the company's stock, valued at $35,388,512.64. This represents a 0.29% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders bought 2,241 shares of company stock valued at $162,260. Insiders own 66.51% of the company's stock.

Institutional Trading of Sol-Gel Technologies

Hedge funds have recently added to or reduced their stakes in the company. Yelin Lapidot Holdings Management Ltd. acquired a new position in shares of Sol-Gel Technologies in the fourth quarter worth about $748,000. Affinity Asset Advisors LLC purchased a new position in shares of Sol-Gel Technologies in the 1st quarter valued at about $2,773,000. Finally, Opaleye Management Inc. raised its holdings in Sol-Gel Technologies by 121.5% in the 4th quarter. Opaleye Management Inc. now owns 453,739 shares of the company's stock worth $19,121,000 after purchasing an additional 248,904 shares during the period. 26.18% of the stock is owned by hedge funds and other institutional investors.

Sol-Gel Technologies Stock Performance

Sol-Gel Technologies stock opened at $77.92 on Wednesday. The business's 50-day simple moving average is $77.77 and its two-hundred day simple moving average is $75.64. The company has a market cap of $218.96 million, a PE ratio of -229.17 and a beta of 1.12. Sol-Gel Technologies has a fifty-two week low of $14.78 and a fifty-two week high of $97.97.

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

About Sol-Gel Technologies

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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