Soligenix (NASDAQ:SNGX) Issues Earnings Results

Soligenix (NASDAQ:SNGX) posted its quarterly earnings data on Friday. The biopharmaceutical company reported ($0.58) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.05, Zacks reports.

Soligenix Stock Performance

NASDAQ:SNGX traded up $0.09 during trading hours on Friday, hitting $1.37. The stock had a trading volume of 271,245 shares, compared to its average volume of 3,663,262. The business’s 50 day moving average is $1.94 and its 200-day moving average is $1.99. The company has a market cap of $5.87 million, a price-to-earnings ratio of -0.36 and a beta of 2.00. Soligenix has a one year low of $1.09 and a one year high of $6.23.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SNGX. Alliance Global Partners decreased their price target on shares of Soligenix from $10.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Wall Street Zen lowered Soligenix to a “strong sell” rating in a research report on Saturday, August 16th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Soligenix in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.00.

Soligenix Company Profile

Soligenix, Inc, a late-stage biopharmaceutical company, focuses on developing and commercializing products to treat rare diseases in the United States. The company operates through two segments, Specialized BioTherapeutics and Public Health Solutions. The Specialized BioTherapeutics segment develops SGX301 (HyBryte), a novel photodynamic therapy, which has completed Phase III clinical trial for the treatment of cutaneous T-cell lymphoma; SGX942, an innate defense regulator technology that is in Phase III clinical trial for the treatment of inflammatory diseases, including oral mucositis in head and neck cancer; SGX302, an IDR technology which is in Phase IIa study to treat mil-to-moderate Psoriasis; and SGX945 and IDR technology that is in Phase IIa protocol for the treatment of Aphthous Ulcers in Behçet's Disease.