Sol-Gel Technologies (NASDAQ:SLGL) Posts Earnings Results

Sol-Gel Technologies (NASDAQ:SLGL) announced its quarterly earnings data on Thursday. The company reported ($1.72) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.07) by $0.35, FiscalAI reports. The company had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $0.15 million. Sol-Gel Technologies had a negative net margin of 910.14% and a negative return on equity of 44.05%.

Sol-Gel Technologies Price Performance

SLGL stock traded down $8.83 during midday trading on Thursday, reaching $54.57. 28,675 shares of the company’s stock traded hands, compared to its average volume of 40,670. The company has a market capitalization of $178.45 million, a P/E ratio of -9.69 and a beta of 1.25. Sol-Gel Technologies has a fifty-two week low of $28.81 and a fifty-two week high of $97.97. The business has a 50-day moving average price of $67.23 and a two-hundred day moving average price of $73.85.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Cantor Fitzgerald assumed coverage on Sol-Gel Technologies in a research report on Wednesday, October 14th. They issued an “overweight” rating on the stock. Zacks Research raised Sol-Gel Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 15th. HC Wainwright restated a “buy” rating and set a $110.00 price target on shares of Sol-Gel Technologies in a research note on Monday, October 19th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Sol-Gel Technologies in a research note on Tuesday, September 1st. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $197.50.

Insider Transactions at Sol-Gel Technologies

In other Sol-Gel Technologies news, major shareholder Opaleye Management Inc. acquired 1,493 shares of the company’s stock in a transaction dated Friday, September 11th. The stock was bought at an average price of $65.94 per share, with a total value of $98,448.42. Following the completion of the transaction, the insider directly owned 540,000 shares of the company’s stock, valued at approximately $35,607,600. The trade was a 0.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased 53,430 shares of company stock worth $3,684,739 in the last ninety days. 66.51% of the stock is owned by insiders.

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.