Soligenix (NASDAQ:SNGX) Announces Earnings Results

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

Soligenix Price Performance

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SNGX shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Soligenix in a report on Wednesday, October 8th. Wall Street Zen downgraded Soligenix to a “strong sell” rating in a research note on Saturday, August 16th. Finally, Alliance Global Partners reduced their price objective on shares of Soligenix from $10.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.