Sol-Gel Technologies (NASDAQ:SLGL) Upgraded by Lifesci Capital to “Strong-Buy” Rating

Lifesci Capital upgraded shares of Sol-Gel Technologies (NASDAQ:SLGL) to a strong-buy rating in a research note published on Friday morning,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Wall Street Zen lowered Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research report on Saturday. HC Wainwright reissued a “buy” rating and set a $110.00 price objective (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 equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Sol-Gel Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $110.00.

Sol-Gel Technologies Trading Up 5.9%

Shares of Sol-Gel Technologies stock opened at $72.72 on Friday. The firm has a market capitalization of $204.34 million, a P/E ratio of -32.61 and a beta of 1.16. The business has a fifty day simple moving average of $75.99 and a two-hundred day simple moving average of $61.00. Sol-Gel Technologies has a 12 month low of $6.80 and a 12 month high of $97.97.

Sol-Gel Technologies (NASDAQ:SLGL) last announced its quarterly earnings data on Thursday, March 19th. The company reported ($1.07) EPS for the quarter, missing the consensus estimate of $0.39 by ($1.46). The firm had revenue of $0.70 million for the quarter, compared to analysts’ expectations of $6.50 million. Sol-Gel Technologies had a negative net margin of 31.60% and a negative return on equity of 24.29%.

Insider Transactions at Sol-Gel Technologies

In other news, major shareholder Opaleye Management Inc. purchased 1,937 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were bought at an average price of $66.87 per share, for a total transaction of $129,527.19. Following the purchase, the insider directly owned 488,437 shares in the company, valued at approximately $32,661,782.19. This trade represents a 0.40% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 66.51% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sol-Gel Technologies

A number of hedge funds have recently bought and sold shares of SLGL. Yelin Lapidot Holdings Management Ltd. bought a new position in Sol-Gel Technologies in the 4th quarter worth about $748,000. Opaleye Management Inc. boosted its stake in Sol-Gel Technologies by 121.5% in the 4th quarter. Opaleye Management Inc. now owns 453,739 shares of the company’s stock worth $19,121,000 after purchasing an additional 248,904 shares in the last quarter. Finally, Affinity Asset Advisors LLC bought a new position in Sol-Gel Technologies in the 1st quarter worth about $2,773,000. Institutional investors 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.