Wall Street brokerages expect Sol Gel Technologies Ltd (NASDAQ:SLGL) to announce sales of $4.16 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Sol Gel Technologies’ earnings, with the highest sales estimate coming in at $4.51 million and the lowest estimate coming in at $3.50 million. Sol Gel Technologies reported sales of $90,000.00 during the same quarter last year, which would suggest a positive year over year growth rate of 4,522.2%. The firm is expected to issue its next earnings report on Thursday, March 19th.
On average, analysts expect that Sol Gel Technologies will report full year sales of $23.05 million for the current financial year, with estimates ranging from $22.40 million to $23.39 million. For the next financial year, analysts anticipate that the firm will report sales of $17.18 million, with estimates ranging from $10.50 million to $21.84 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Sol Gel Technologies.
SLGL has been the subject of a number of recent analyst reports. Jefferies Financial Group increased their price target on Sol Gel Technologies from $14.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, December 31st. JMP Securities increased their price target on Sol Gel Technologies from $20.00 to $33.00 and gave the stock an “outperform” rating in a report on Tuesday, December 31st. HC Wainwright increased their price target on Sol Gel Technologies from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, December 31st. Zacks Investment Research upgraded Sol Gel Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, ValuEngine upgraded Sol Gel Technologies from a “strong sell” rating to a “sell” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Sol Gel Technologies presently has a consensus rating of “Buy” and a consensus price target of $23.00.
Sol Gel Technologies stock traded up $0.01 during trading hours on Tuesday, reaching $11.94. 113,869 shares of the company’s stock were exchanged, compared to its average volume of 111,274. The firm’s 50 day simple moving average is $13.09 and its 200 day simple moving average is $9.75. Sol Gel Technologies has a twelve month low of $6.11 and a twelve month high of $21.00. The firm has a market capitalization of $243.25 million, a PE ratio of -5.12 and a beta of 1.27.
Institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its stake in shares of Sol Gel Technologies by 605.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,710 shares of the company’s stock valued at $64,000 after buying an additional 3,184 shares during the period. BlackRock Inc. grew its stake in shares of Sol Gel Technologies by 104.6% in the 2nd quarter. BlackRock Inc. now owns 10,753 shares of the company’s stock valued at $98,000 after buying an additional 5,497 shares during the period. Invesco Ltd. grew its stake in shares of Sol Gel Technologies by 12.8% in the 2nd quarter. Invesco Ltd. now owns 13,052 shares of the company’s stock valued at $119,000 after buying an additional 1,483 shares during the period. Finally, Phoenix Holdings Ltd. acquired a new stake in shares of Sol Gel Technologies in the 3rd quarter valued at about $17,471,000. Institutional investors own 25.14% of the company’s stock.
About Sol Gel Technologies
Sol-Gel Technologies Ltd., a clinical-stage specialty pharmaceutical company, focuses on developing and commercializing topical dermatological drug products based on its proprietary microencapsulation delivery system in Israel. The company's lead product candidates include TWIN and SIRS-T, which has completed Phase II clinical trials for the treatment of acne vulgaris; and VERED that has completed Phase II clinical trials for the treatment of papulopustular rosacea.
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