Maxim Group set a $4.00 price objective on Soligenix Inc. (NASDAQ:SNGX) in a research report sent to investors on Thursday. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

“Summary Soligenix announced that patient enrollment has been opened for its Phase 3, multinational, randomized, double-blind, placebo-controlled study evaluating SGX942 (dusquetide) as a treatment for severe oral mucositis in patients with head and neck cancer receiving chemoradiation therapy (CRT).”,” Maxim Group’s analyst commented.

Separately, HC Wainwright started coverage on Soligenix in a research note on Monday, July 17th. They set a buy rating on the stock.

Shares of Soligenix (NASDAQ:SNGX) traded up 2.2544% during midday trading on Thursday, reaching $2.3314. The company’s stock had a trading volume of 1,326 shares. Soligenix has a one year low of $2.28 and a one year high of $14.40. The stock’s 50-day moving average is $2.23 and its 200-day moving average is $2.47. The company’s market capitalization is $13.22 million.

Soligenix (NASDAQ:SNGX) last released its quarterly earnings results on Thursday, May 11th. The biopharmaceutical company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by $0.02. Soligenix had a negative return on equity of 102.83% and a negative net margin of 41.74%. The firm had revenue of $1.30 million for the quarter. On average, equities analysts expect that Soligenix will post ($1.18) earnings per share for the current fiscal year.

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In other Soligenix news, major shareholder Randal J. Kirk sold 160,968 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $3.12, for a total transaction of $502,220.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.03% of the stock is owned by corporate insiders.

Soligenix Company Profile

Soligenix, Inc is a late-stage biopharmaceutical company. The Company is focused on developing and commercializing products to treat rare diseases. The Company operates through two segments: BioTherapeutics and Vaccines/BioDefense. Its BioTherapeutics segment is developing a photodynamic therapy (SGX301) utilizing topical synthetic hypericin activated with safe visible light for the treatment of cutaneous T-cell lymphoma (CTCL), formulations of oral beclomethasone 17,21-dipropionate (BDP) for the prevention/treatment of gastrointestinal (GI) disorders characterized by severe inflammation, and its innate defense regulator (IDR) technology, dusquetide (SGX942) for the treatment of oral mucositis in head and neck cancer.

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