Sol-Gel Technologies (NASDAQ:SLGL) Releases Earnings Results, Beats Expectations By $1.55 EPS

Sol-Gel Technologies (NASDAQ:SLGL) announced its quarterly earnings results on Thursday. The company reported ($1.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.86) by $1.55, Zacks reports. Sol-Gel Technologies had a negative net margin of 31.60% and a negative return on equity of 24.29%.

Sol-Gel Technologies Stock Performance

Shares of SLGL opened at $73.80 on Thursday. The stock has a 50 day simple moving average of $73.89 and a 200 day simple moving average of $63.18. Sol-Gel Technologies has a 52-week low of $6.80 and a 52-week high of $97.97. The firm has a market capitalization of $207.38 million, a PE ratio of -33.09 and a beta of 1.16.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SLGL shares. Weiss Ratings downgraded shares of Sol-Gel Technologies from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, May 22nd. Lifesci Capital raised shares of Sol-Gel Technologies to a “strong-buy” rating in a report on Friday, May 15th. Finally, Wall Street Zen cut shares of Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $110.00.

Insider Buying and Selling

In related news, major shareholder Opaleye Management Inc. purchased 1,937 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were purchased at an average price of $66.87 per share, with a total value of $129,527.19. Following the completion of the purchase, the insider owned 488,437 shares in the company, valued at $32,661,782.19. This represents a 0.40% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 66.51% of the company’s stock.

Institutional Investors Weigh In On Sol-Gel Technologies

An institutional investor recently raised its position in Sol-Gel Technologies stock. Opaleye Management Inc. raised its position in Sol-Gel Technologies Ltd. (NASDAQ:SLGL) by 121.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 453,739 shares of the company’s stock after acquiring an additional 248,904 shares during the period. Sol-Gel Technologies comprises 2.5% of Opaleye Management Inc.’s portfolio, making the stock its 9th biggest position. Opaleye Management Inc. owned about 16.29% of Sol-Gel Technologies worth $19,121,000 at the end of the most recent reporting period. 26.18% of the stock is currently owned by institutional investors and hedge funds.

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.