HC Wainwright Reaffirms “Buy” Rating for Sol Gel Technologies (SLGL)
Sol Gel Technologies (NASDAQ:SLGL)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a report released on Wednesday. They presently have a $21.00 price objective on the stock. HC Wainwright’s target price points to a potential upside of 230.71% from the stock’s current price.
The analysts wrote, “We have valued Sol-Gel based on a discounted cash flow (DCF) analysis. This yields a value of $102M for TWIN, assuming a 50% probability of success, and a $323M valuation for Epsolay, assuming a 60% probability of success.””
Several other analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Sol Gel Technologies from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a research note on Tuesday, November 20th. ValuEngine raised shares of Sol Gel Technologies from a “hold” rating to a “buy” rating in a research note on Monday, August 20th. Six investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus price target of $16.75.
Sol Gel Technologies (NASDAQ:SLGL) last posted its quarterly earnings results on Tuesday, November 13th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.16. The firm had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $0.05 million. As a group, sell-side analysts forecast that Sol Gel Technologies will post -1.81 earnings per share for the current year.
Hedge funds have recently modified their holdings of the company. Raymond James & Associates acquired a new position in shares of Sol Gel Technologies in the 2nd quarter worth approximately $102,000. Alpine Global Management LLC acquired a new position in shares of Sol Gel Technologies in the 2nd quarter worth approximately $118,000. Finally, Delek Group Ltd. lifted its holdings in shares of Sol Gel Technologies by 22.3% in the 2nd quarter. Delek Group Ltd. now owns 1,269,816 shares of the company’s stock worth $9,803,000 after acquiring an additional 231,786 shares during the last quarter. Hedge funds and other institutional investors own 20.37% of the company’s stock.
Sol Gel Technologies Company Profile
Sol-Gel Technologies Ltd., a clinical-stage specialty pharmaceutical company, focuses on developing and commercializing topical dermatological drug products based on its proprietary microencapsulation delivery system in Israel. The company's lead product candidates include TWIN and SIRS-T, which has completed Phase II clinical trials for the treatment of acne vulgaris; and VERED that has completed Phase II clinical trials for the treatment of papulopustular rosacea.
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