Opaleye Management Inc. Buys 2,524 Shares of Sol-Gel Technologies (NASDAQ:SLGL) Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. purchased 2,524 shares of the company’s stock in a transaction on Wednesday, December 3rd. The shares were bought at an average cost of $37.81 per share, with a total value of $95,432.44. Following the transaction, the insider directly owned 370,964 shares of the company’s stock, valued at $14,026,148.84. This represents a 0.69% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Opaleye Management Inc. also recently made the following trade(s):

• On Monday, December 1st, Opaleye Management Inc. acquired 4,340 shares of Sol-Gel Technologies stock. The stock was bought at an average price of $37.37 per share, for a total transaction of $162,185.80.

Sol-Gel Technologies Stock Performance

Sol-Gel Technologies stock traded up $1.05 during midday trading on Wednesday, reaching $39.78. 30,152 shares of the company were exchanged, compared to its average volume of 22,418. The firm’s 50-day simple moving average is $36.37 and its 200-day simple moving average is $21.58. Sol-Gel Technologies Ltd. has a 1 year low of $4.02 and a 1 year high of $52.26. The company has a market capitalization of $110.83 million, a price-to-earnings ratio of -12.20 and a beta of 1.36.

Sol-Gel Technologies (NASDAQ:SLGL) last released its quarterly earnings results on Thursday, November 20th. The company reported ($2.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.09) by ($0.04). The firm had revenue of $0.40 million for the quarter, compared to analyst estimates of $0.30 million. Sol-Gel Technologies had a negative return on equity of 33.61% and a negative net margin of 47.37%. On average, analysts forecast that Sol-Gel Technologies Ltd. will post -0.28 EPS for the current fiscal year.

Analyst Ratings Changes

SLGL has been the subject of several analyst reports. HC Wainwright boosted their price target on Sol-Gel Technologies from $6.00 to $50.00 and gave the company a “buy” rating in a report on Monday, October 27th. Zacks Research raised Sol-Gel Technologies to a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Sol-Gel Technologies in a research report on Friday, November 28th. Finally, Wall Street Zen lowered Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $50.00.

About Sol-Gel Technologies

Sol-Gel Technologies Ltd., together with its subsidiary Sol-Gel Technologies Inc, develops topical dermatological drugs for patients with severe skin conditions in Israel. The company offers Twyneo, a once-daily, non-antibiotic topical cream for the treatment of acne vulgaris; and Epsolay, a once-daily topical cream for the treatment of papulopustular (subtype II) rosacea.