Sol-Gel Technologies (NASDAQ:SLGL) Posts Quarterly Earnings Results, Beats Expectations By $1.23 EPS

Key Points

• Sol-Gel Technologies beat quarterly expectations: The company reported a loss of $1.13 per share, $1.23 better than the consensus estimate, while revenue of $0.59 million exceeded the $0.07 million forecast.
• The stock remains unprofitable and volatile: Sol-Gel posted a negative net margin and return on equity, with shares trading at $78.59 and ranging from $16.50 to $97.97 over the past year.
• Analyst sentiment is broadly positive but mixed: The stock has a “Moderate Buy” consensus rating and an average price target of $197.50, while insiders own 66.51% of shares and have recently increased their holdings.

Sol-Gel Technologies (NASDAQ:SLGL - Get Free Report) posted its quarterly earnings data on Thursday. The company reported ($1.13) EPS for the quarter, topping the consensus estimate of ($2.36) by $1.23, FiscalAI reports. The business had revenue of $0.59 million during the quarter, compared to the consensus estimate of $0.07 million. Sol-Gel Technologies had a negative net margin of 5.66% and a negative return on equity of 3.17%.

Sol-Gel Technologies Stock Performance

NASDAQ:SLGL opened at $78.59 on Thursday. The firm's fifty day moving average is $78.32 and its two-hundred day moving average is $76.51. The firm has a market cap of $220.84 million, a price-to-earnings ratio of -231.14 and a beta of 1.12. Sol-Gel Technologies has a one year low of $16.50 and a one year high of $97.97.

Insider Buying and Selling at Sol-Gel Technologies

In related news, major shareholder Opaleye Management Inc. acquired 1,400 shares of the firm's stock in a transaction dated Thursday, July 2nd. The stock was acquired at an average price of $71.97 per share, with a total value of $100,758.00. Following the acquisition, the insider directly owned 491,712 shares in the company, valued at $35,388,512.64. This represents a 0.29% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders bought 2,241 shares of company stock worth $162,260. Company insiders own 66.51% of the company's stock.

Institutional Investors Weigh In On Sol-Gel Technologies

A hedge fund recently raised its stake in Sol-Gel Technologies stock. Opaleye Management Inc. grew its position in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL - Free Report) by 121.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 453,739 shares of the company's stock after purchasing an additional 248,904 shares during the quarter. Sol-Gel Technologies makes up about 2.5% of Opaleye Management Inc.'s portfolio, making the stock its 9th biggest holding. Opaleye Management Inc. owned 16.29% of Sol-Gel Technologies worth $19,121,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 26.18% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Weiss Ratings lowered 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 Sol-Gel Technologies in a research note on Wednesday, June 24th. They set an "outperform" rating and a $285.00 price target on the stock. Wall Street Zen lowered Sol-Gel Technologies from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. HC Wainwright restated a "buy" rating and issued a $110.00 price objective on shares of Sol-Gel Technologies in a research note on Monday, July 20th. Finally, TD Cowen initiated coverage on Sol-Gel Technologies in a report on Friday, May 29th. They set a "buy" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Sol-Gel Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $197.50.

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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