Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Receives $110.00 Average Price Target from Brokerages

Shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL) have been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $110.00.

A number of equities analysts recently commented on SLGL shares. Wall Street Zen downgraded Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings cut Sol-Gel Technologies from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, May 22nd. Lifesci Capital upgraded Sol-Gel Technologies to a “strong-buy” rating in a research report on Friday, May 15th. Finally, TD Cowen initiated coverage on Sol-Gel Technologies in a research report on Friday, May 29th. They issued a “buy” rating for the company.

Sol-Gel Technologies Price Performance

SLGL opened at $74.37 on Friday. The stock has a market capitalization of $208.98 million, a PE ratio of -218.73 and a beta of 1.13. The firm’s fifty day moving average price is $73.52 and its 200 day moving average price is $64.90. Sol-Gel Technologies has a 12-month low of $6.80 and a 12-month high of $97.97.

Sol-Gel Technologies (NASDAQ:SLGL) last posted its quarterly earnings results on Thursday, May 28th. The company reported ($1.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.86) by $1.55. The firm had revenue of $0.11 million for the quarter, compared to analysts’ expectations of $0.90 million. Sol-Gel Technologies had a negative net margin of 5.66% and a negative return on equity of 3.17%. On average, equities research analysts forecast that Sol-Gel Technologies will post -8.99 earnings per share for the current fiscal year.

Insider Activity at Sol-Gel Technologies

In other news, major shareholder Opaleye Management Inc. bought 1,937 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was bought at an average price of $66.87 per share, for a total transaction of $129,527.19. Following the transaction, the insider owned 488,437 shares in the company, valued at $32,661,782.19. The trade was a 0.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 66.51% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Yelin Lapidot Holdings Management Ltd. acquired a new position in shares of Sol-Gel Technologies in the 4th quarter worth approximately $748,000. Affinity Asset Advisors LLC acquired a new position in shares of Sol-Gel Technologies in the 1st quarter worth approximately $2,773,000. Finally, Opaleye Management Inc. grew its position in shares of Sol-Gel Technologies by 121.5% in the 4th quarter. Opaleye Management Inc. now owns 453,739 shares of the company’s stock worth $19,121,000 after acquiring an additional 248,904 shares in the last quarter. Institutional investors and hedge funds 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.