Zacks Investment Research Lowers Sol-Gel Technologies (NASDAQ:SLGL) to Sell

Zacks Investment Research downgraded shares of Sol-Gel Technologies (NASDAQ:SLGL) from a hold rating to a sell rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “Sol-Gel Technologies Ltd.is a clinical-stage dermatology company. It focused on identifying, developing and commercializing branded and generic topical drug products for the treatment of skin diseases. Its product candidates include VERED for the treatment of papulopustular rosacea, TWIN and SIRS-T for the treatment of acne vulgaris, which are in its clinical stage. Sol-Gel Technologies Ltd.is based in Israel. “

A number of other equities analysts have also recently issued reports on SLGL. Raymond James dropped their price objective on shares of Sol-Gel Technologies from $23.00 to $21.00 and set a strong-buy rating for the company in a research note on Friday, November 12th. HC Wainwright restated a buy rating and issued a $20.00 price objective on shares of Sol-Gel Technologies in a research note on Thursday, December 23rd.

Shares of Sol-Gel Technologies stock opened at $7.51 on Wednesday. Sol-Gel Technologies has a fifty-two week low of $6.12 and a fifty-two week high of $16.69. The company has a market cap of $153.13 million, a PE ratio of -8.94 and a beta of 1.22. The firm has a fifty day moving average price of $7.78 and a two-hundred day moving average price of $9.37.

Sol-Gel Technologies (NASDAQ:SLGL) last announced its quarterly earnings data on Thursday, November 11th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.13. The business had revenue of $8.84 million during the quarter, compared to analyst estimates of $9.53 million. As a group, analysts forecast that Sol-Gel Technologies will post -0.03 earnings per share for the current year.

A hedge fund recently raised its stake in Sol-Gel Technologies stock. Raymond James Financial Services Advisors Inc. increased its position in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL) by 6.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,011 shares of the company’s stock after purchasing an additional 7,544 shares during the quarter. Raymond James Financial Services Advisors Inc. owned approximately 0.63% of Sol-Gel Technologies worth $1,288,000 at the end of the most recent quarter. Institutional investors own 28.79% of the company’s stock.

Sol-Gel Technologies Company Profile

Sol-Gel Technologies Ltd. is a clinical-stage dermatology company, which engages in the identification, development, and commercialization of topical dermatological drug products for the treatment of skin diseases. Its products include VERED, TWIN, and SIRS-T. The company was founded by David Avnir and Alon Seri-Levy on October 28, 1997 and is headquartered in Ness Ziona, Israel.

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