Wall Street Zen Downgrades Sol-Gel Technologies (NASDAQ:SLGL) to Hold

Sol-Gel Technologies (NASDAQ:SLGL) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Other equities analysts have also issued research reports about the stock. HC Wainwright reissued a “buy” rating and issued a $110.00 price target (up from $50.00) on shares of Sol-Gel Technologies in a research report on Tuesday, January 20th. Weiss Ratings raised shares of Sol-Gel Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $110.00.

Sol-Gel Technologies Price Performance

NASDAQ:SLGL opened at $72.72 on Friday. Sol-Gel Technologies has a 12 month low of $6.80 and a 12 month high of $97.97. The firm has a market cap of $204.34 million, a price-to-earnings ratio of -32.61 and a beta of 1.16. The company’s 50 day moving average is $75.99 and its 200-day moving average is $61.15.

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

Insider Transactions at Sol-Gel Technologies

In related news, major shareholder Opaleye Management Inc. bought 1,937 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired 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. The trade was a 0.40% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 66.51% of the company’s stock.

Hedge Funds Weigh In On Sol-Gel Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of SLGL. Yelin Lapidot Holdings Management Ltd. bought a new position in Sol-Gel Technologies during the fourth quarter worth $748,000. Affinity Asset Advisors LLC acquired a new stake in Sol-Gel Technologies during the first quarter worth $2,773,000. Finally, Opaleye Management Inc. boosted its stake in Sol-Gel Technologies by 121.5% during the fourth quarter. Opaleye Management Inc. now owns 453,739 shares of the company’s stock worth $19,121,000 after buying an additional 248,904 shares in the last quarter. Institutional investors own 26.18% of the company’s stock.

About Sol-Gel Technologies

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.