Sol-Gel Technologies (NASDAQ:SLGL) Now Covered by Analysts at Mizuho

Research analysts at Mizuho began coverage on shares of Sol-Gel Technologies (NASDAQ:SLGL) in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm set an “outperform” rating and a $285.00 price target on the stock. Mizuho’s price objective points to a potential upside of 299.94% from the stock’s current price.

Other analysts have also recently issued reports about the company. TD Cowen assumed coverage on Sol-Gel Technologies in a research note on Friday, May 29th. They issued a “buy” rating on the stock. Lifesci Capital upgraded shares of Sol-Gel Technologies to a “strong-buy” rating in a research note on Friday, May 15th. Weiss Ratings cut shares of Sol-Gel Technologies from a “sell (d+)” rating to a “sell (d-)” rating in a report on Thursday, June 4th. Finally, Wall Street Zen downgraded shares of Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $197.50.

Sol-Gel Technologies Stock Performance

Shares of SLGL opened at $71.26 on Wednesday. The stock has a 50-day simple moving average of $73.01 and a 200-day simple moving average of $68.17. The stock has a market capitalization of $200.24 million, a PE ratio of -209.58 and a beta of 1.13. Sol-Gel Technologies has a 1 year low of $6.96 and a 1 year high of $97.97.

Sol-Gel Technologies (NASDAQ:SLGL) last issued its quarterly earnings results on Thursday, May 28th. The company reported ($1.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.86) by $1.55. Sol-Gel Technologies had a negative net margin of 5.66% and a negative return on equity of 3.17%. The company had revenue of $0.11 million during the quarter, compared to the consensus estimate of $0.90 million. Analysts predict that Sol-Gel Technologies will post -8.99 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Opaleye Management Inc. bought 1,937 shares of the company’s stock in a transaction dated 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 acquisition, the insider 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 is accessible through this hyperlink. Corporate insiders own 66.51% of the company’s stock.

Institutional Investors Weigh In On Sol-Gel Technologies

Several hedge funds have recently modified their holdings of SLGL. Yelin Lapidot Holdings Management Ltd. acquired a new position in Sol-Gel Technologies in the 4th quarter valued at $748,000. Affinity Asset Advisors LLC acquired a new position in shares of Sol-Gel Technologies during the first quarter worth about $2,773,000. Finally, Opaleye Management Inc. lifted its position in 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 purchasing an additional 248,904 shares during the period. 26.18% of the stock is owned by institutional investors and hedge funds.

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.