Sol-Gel Technologies’ (SLGL) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Sol-Gel Technologies (NASDAQ:SLGL) in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a $110.00 price objective on the stock.

SLGL has been the topic of a number of other reports. Cantor Fitzgerald assumed coverage on shares of Sol-Gel Technologies in a research note on Wednesday, October 14th. They issued an “overweight” rating on the stock. Mizuho initiated coverage on Sol-Gel Technologies in a report on Wednesday, June 24th. They set an “outperform” rating and a $285.00 target price on the stock. Zacks Research upgraded Sol-Gel Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sol-Gel Technologies in a report on Tuesday, September 1st. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $197.50.

Sol-Gel Technologies Stock Down 0.1%

Shares of NASDAQ SLGL opened at $65.72 on Monday. The firm has a 50-day simple moving average of $70.59 and a 200-day simple moving average of $73.75. The stock has a market capitalization of $214.90 million, a price-to-earnings ratio of -11.65 and a beta of 1.14. Sol-Gel Technologies has a 52 week low of $28.81 and a 52 week high of $97.97.

Sol-Gel Technologies (NASDAQ:SLGL) last posted its quarterly earnings results on Friday, August 21st. The company reported ($1.13) earnings per share for the quarter, topping the consensus estimate of ($2.36) by $1.23. The firm had revenue of $0.59 million for the quarter, compared to the consensus estimate of $0.07 million. Sol-Gel Technologies had a negative net margin of 910.14% and a negative return on equity of 44.05%. As a group, equities research analysts expect that Sol-Gel Technologies will post -5.37 EPS for the current year.

Insiders Place Their Bets

In other Sol-Gel Technologies news, major shareholder Opaleye Management Inc. acquired 35,113 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was bought at an average cost of $69.32 per share, for a total transaction of $2,434,033.16. Following the completion of the transaction, the insider owned 520,000 shares of the company’s stock, valued at approximately $36,046,400. The trade was a 7.24% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased 53,430 shares of company stock valued at $3,684,739 in the last ninety days. Corporate insiders own 66.51% of the company’s stock.

Institutional Investors Weigh In On Sol-Gel Technologies

An institutional investor recently bought a new position in Sol-Gel Technologies stock. Navellier & Associates Inc. purchased a new position in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,785 shares of the company’s stock, valued at approximately $429,000. Navellier & Associates Inc. owned 0.21% of Sol-Gel Technologies at the end of the most recent quarter. 26.18% of the stock is owned by hedge funds and other institutional investors.

About Sol-Gel Technologies

Sol-Gel Technologies Ltd. (NASDAQ: SLGL) is an Israeli specialty pharmaceutical company focused on developing and commercializing topical dermatological treatments. The company uses proprietary silica-based microsponge technology designed to encapsulate and gradually release active pharmaceutical ingredients in the skin.

Its marketed products include TWYNEO, a topical cream combining tretinoin and benzoyl peroxide for the treatment of acne vulgaris, and EPSOLAY, a topical benzoyl peroxide cream for the treatment of inflammatory lesions associated with rosacea.