Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Receives $197.50 Average Target Price from Brokerages

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) has received an average rating of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $197.50.

A number of research firms recently commented on SLGL. TD Cowen started coverage on Sol-Gel Technologies in a research note on Friday, May 29th. They set a “buy” rating on the stock. Mizuho began coverage on shares of Sol-Gel Technologies in a report on Wednesday, June 24th. They set an “outperform” rating and a $285.00 price target for the company. Wall Street Zen lowered shares of Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Sol-Gel Technologies in a research note on Tuesday, September 1st. Finally, HC Wainwright reissued a “buy” rating and set a $110.00 price target on shares of Sol-Gel Technologies in a research note on Monday, July 20th.

Insider Transactions at Sol-Gel Technologies

In other Sol-Gel Technologies news, major shareholder Opaleye Management Inc. purchased 3,097 shares of the stock in a transaction on Wednesday, September 9th. The stock was bought at an average price of $68.70 per share, for a total transaction of $212,763.90. Following the acquisition, the insider directly owned 536,876 shares of the company’s stock, valued at $36,883,381.20. This represents a 0.58% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders bought 52,547 shares of company stock valued at $3,639,601. 66.51% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sol-Gel Technologies

Several hedge funds have recently modified their holdings of SLGL. Yelin Lapidot Holdings Management Ltd. purchased a new stake in Sol-Gel Technologies in the fourth quarter valued at approximately $748,000. Affinity Asset Advisors LLC purchased a new position in Sol-Gel Technologies during the first quarter worth approximately $2,773,000. Navellier & Associates Inc. purchased a new position in Sol-Gel Technologies during the second quarter worth approximately $429,000. Finally, Opaleye Management Inc. boosted its holdings in shares of Sol-Gel Technologies by 121.5% in the 4th quarter. Opaleye Management Inc. now owns 453,739 shares of the company’s stock valued at $19,121,000 after purchasing an additional 248,904 shares during the last quarter. 26.18% of the stock is owned by institutional investors and hedge funds.

Sol-Gel Technologies Stock Down 1.3%

NASDAQ:SLGL opened at $65.94 on Friday. Sol-Gel Technologies has a 52-week low of $23.15 and a 52-week high of $97.97. The stock has a fifty day simple moving average of $77.88 and a 200-day simple moving average of $76.73. The company has a market capitalization of $185.29 million, a PE ratio of -11.69 and a beta of 1.12.

Sol-Gel Technologies (NASDAQ:SLGL) last posted its earnings results on Friday, August 21st. The company reported ($1.13) earnings per share for the quarter, beating the consensus estimate of ($2.36) by $1.23. Sol-Gel Technologies had a negative net margin of 910.14% and a negative return on equity of 44.05%. The firm had revenue of $0.59 million during the quarter, compared to the consensus estimate of $0.07 million. As a group, equities analysts anticipate that Sol-Gel Technologies will post -6.06 earnings per share for the current year.

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.