Sol-Gel Technologies (NASDAQ:SLGL – Get Free Report) was upgraded by stock analysts at Lifesci Capital to a “strong-buy” rating in a report issued on Friday,Zacks.com reports.
Several other equities analysts also recently commented on SLGL. Wall Street Zen downgraded Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research report on Saturday. HC Wainwright reaffirmed a “buy” rating and issued a $110.00 target price (up from $50.00) on shares of Sol-Gel Technologies in a research report on Tuesday, January 20th. Finally, Weiss Ratings raised Sol-Gel Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $110.00.
Check Out Our Latest Report on SLGL
Sol-Gel Technologies Stock Up 5.9%
Sol-Gel Technologies (NASDAQ:SLGL – Get Free Report) last announced its quarterly earnings results on Thursday, March 19th. The company reported ($1.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($1.46). The business had revenue of $0.70 million for the quarter, compared to analyst estimates of $6.50 million. Sol-Gel Technologies had a negative return on equity of 24.29% and a negative net margin of 31.60%.
Insider Activity at Sol-Gel Technologies
In other news, major shareholder Opaleye Management Inc. bought 1,937 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were bought at an average price of $66.87 per share, with a total value of $129,527.19. Following the completion of the transaction, the insider owned 488,437 shares of the company’s stock, valued at $32,661,782.19. This trade represents a 0.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 66.51% of the company’s stock.
Hedge Funds Weigh In On Sol-Gel Technologies
Several institutional investors and hedge funds have recently made changes to their positions in SLGL. Opaleye Management Inc. boosted its stake in shares of Sol-Gel Technologies by 121.5% in the fourth quarter. Opaleye Management Inc. now owns 453,739 shares of the company’s stock valued at $19,121,000 after buying an additional 248,904 shares during the period. Affinity Asset Advisors LLC bought a new stake in shares of Sol-Gel Technologies in the first quarter valued at approximately $2,773,000. Finally, Yelin Lapidot Holdings Management Ltd. bought a new stake in shares of Sol-Gel Technologies in the fourth quarter valued at approximately $748,000. Institutional investors and hedge funds own 26.18% of the company’s stock.
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.
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