Sol-Gel Technologies (NASDAQ:SLGL) Now Covered by Analysts at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of Sol-Gel Technologies (NASDAQ:SLGL) in a report issued on Wednesday, MarketBeat Ratings reports. The firm set an “overweight” rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Sol-Gel Technologies in a research report on Tuesday, September 1st. Mizuho started coverage on shares of Sol-Gel Technologies in a report on Wednesday, June 24th. They issued an “outperform” rating and a $285.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating on shares of Sol-Gel Technologies in a research report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Sol-Gel Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $197.50.

Sol-Gel Technologies Stock Down 5.7%

NASDAQ:SLGL opened at $68.30 on Wednesday. The company has a market capitalization of $223.34 million, a PE ratio of -12.11 and a beta of 1.14. Sol-Gel Technologies has a 52-week low of $28.81 and a 52-week high of $97.97. The stock has a fifty day simple moving average of $72.56 and a 200-day simple moving average of $74.24.

Sol-Gel Technologies (NASDAQ:SLGL) last issued its quarterly earnings data on Friday, August 21st. The company reported ($1.13) EPS for the quarter, beating analysts’ consensus estimates of ($2.36) by $1.23. The firm had revenue of $0.59 million for the quarter, compared to analysts’ expectations of $0.07 million. Sol-Gel Technologies had a negative net margin of 910.14% and a negative return on equity of 44.05%. As a group, equities analysts anticipate that Sol-Gel Technologies will post -4.95 earnings per share for the current year.

Insider Buying and Selling at Sol-Gel Technologies

In related news, major shareholder Opaleye Management Inc. purchased 35,113 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was bought at an average cost of $69.32 per share, with a total value of $2,434,033.16. Following the completion of the acquisition, the insider directly owned 520,000 shares in the company, valued at $36,046,400. The trade was a 7.24% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 53,430 shares of company stock valued at $3,684,739 over the last ninety days. Insiders own 66.51% of the company’s stock.

Institutional Trading of Sol-Gel Technologies

A hedge fund recently bought a new stake in Sol-Gel Technologies stock. Affinity Asset Advisors LLC acquired a new position in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 35,000 shares of the company’s stock, valued at approximately $2,773,000. Affinity Asset Advisors LLC owned approximately 1.25% of Sol-Gel Technologies at the end of the most recent quarter. 26.18% of the stock is currently owned by institutional investors.

Sol-Gel Technologies Company Profile

Sol-Gel Technologies Ltd. (NASDAQ: SLGL) is an Israeli specialty pharmaceutical company focused on developing and commercializing topical dermatological treatments. The company uses proprietary silica-based microsponge technology designed to encapsulate and gradually release active pharmaceutical ingredients in the skin.

Its marketed products include TWYNEO, a topical cream combining tretinoin and benzoyl peroxide for the treatment of acne vulgaris, and EPSOLAY, a topical benzoyl peroxide cream for the treatment of inflammatory lesions associated with rosacea.