HC Wainwright Reiterates “Buy” Rating for Soligenix Inc. (SNGX)
Soligenix Inc. (NASDAQ:SNGX)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research report issued to clients and investors on Monday. They currently have a $5.50 price target on the biopharmaceutical company’s stock, down from their prior price target of $11.00. HC Wainwright’s price objective would suggest a potential upside of 163.16% from the company’s previous close.
Separately, Maxim Group set a $5.00 price target on shares of Soligenix and gave the stock a “buy” rating in a research note on Tuesday, October 31st.
Soligenix (NASDAQ:SNGX) opened at $2.09 on Monday. Soligenix has a 12 month low of $1.74 and a 12 month high of $5.08.
Soligenix (NASDAQ:SNGX) last posted its quarterly earnings results on Monday, November 6th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.32) by $0.15. The business had revenue of $1.82 million during the quarter, compared to the consensus estimate of $1.36 million. Soligenix had a negative net margin of 90.93% and a negative return on equity of 100.40%. sell-side analysts anticipate that Soligenix will post -1.52 earnings per share for the current fiscal year.
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Soligenix Company Profile
Soligenix, Inc is a late-stage biopharmaceutical company. The Company is focused on developing and commercializing products to treat rare diseases. The Company operates through two segments: BioTherapeutics and Vaccines/BioDefense. Its BioTherapeutics segment is developing a photodynamic therapy (SGX301) utilizing topical synthetic hypericin activated with safe visible light for the treatment of cutaneous T-cell lymphoma (CTCL), formulations of oral beclomethasone 17,21-dipropionate (BDP) for the prevention/treatment of gastrointestinal (GI) disorders characterized by severe inflammation, and its innate defense regulator (IDR) technology, dusquetide (SGX942) for the treatment of oral mucositis in head and neck cancer.
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