Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Stock Rated “Buy” by Wall Street Analysts

Shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL) have received an average recommendation of “Buy” from the seven research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $197.50.

SLGL has been the topic of several recent research reports. Zacks Research upgraded Sol-Gel Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sol-Gel Technologies in a research report on Tuesday, September 1st. Cantor Fitzgerald began coverage on Sol-Gel Technologies in a research report on Wednesday, October 14th. They set an “overweight” rating for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $110.00 target price on shares of Sol-Gel Technologies in a research note on Monday, October 19th.

Sol-Gel Technologies Stock Performance

Shares of NASDAQ:SLGL opened at $69.45 on Monday. The company has a 50-day simple moving average of $69.96 and a 200-day simple moving average of $73.64. Sol-Gel Technologies has a one year low of $28.81 and a one year high of $97.97. The stock has a market capitalization of $227.10 million, a price-to-earnings ratio of -12.31 and a beta of 1.14.

Sol-Gel Technologies (NASDAQ:SLGL) last announced its earnings results on Friday, August 21st. The company reported ($1.13) earnings per share for the quarter, topping the consensus estimate of ($2.36) by $1.23. Sol-Gel Technologies had a negative net margin of 910.14% and a negative return on equity of 44.05%. The business had revenue of $0.59 million during the quarter, compared to the consensus estimate of $0.07 million. As a group, research analysts forecast that Sol-Gel Technologies will post -5.37 EPS for the current fiscal year.

Insider Activity at Sol-Gel Technologies

In related news, major shareholder Opaleye Management Inc. purchased 1,493 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The stock was purchased at an average cost of $65.94 per share, with a total value of $98,448.42. Following the completion of the acquisition, the insider directly owned 540,000 shares in the company, valued at $35,607,600. This trade represents a 0.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders purchased a total of 53,430 shares of company stock worth $3,684,739 in the last three months. 66.51% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sol-Gel Technologies

A hedge fund recently bought a new stake in Sol-Gel Technologies stock. Affinity Asset Advisors LLC acquired a new stake in Sol-Gel Technologies Ltd. (NASDAQ:SLGL) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 35,000 shares of the company’s stock, valued at approximately $2,773,000. Affinity Asset Advisors LLC owned 1.25% of Sol-Gel Technologies as of its most recent filing with the Securities and Exchange Commission. 26.18% of the stock is owned by hedge funds and other institutional investors.

About Sol-Gel Technologies

Sol-Gel Technologies Ltd. is a dermatology-focused specialty pharmaceutical company based in Israel. The company develops and commercializes topical prescription medicines for common skin conditions, using proprietary delivery technologies designed to improve the stability, tolerability, and effectiveness of active pharmaceutical ingredients.

Its marketed products include Epsolay, a topical benzoyl peroxide cream indicated for the treatment of inflammatory lesions associated with rosacea, and Twyneo, a fixed-dose topical combination of tretinoin and benzoyl peroxide for acne vulgaris.