Maxim Group set a $4.00 target price on Soligenix (NASDAQ:SNGX) in a research report report published on Thursday morning. The firm currently has a buy rating on the biopharmaceutical company’s stock.

Separately, ValuEngine upgraded Soligenix from a hold rating to a buy rating in a research note on Thursday, November 1st.

NASDAQ SNGX traded up $0.01 during trading on Thursday, hitting $0.98. The stock had a trading volume of 29,181 shares, compared to its average volume of 61,022. Soligenix has a 12 month low of $0.91 and a 12 month high of $3.70.

Soligenix (NASDAQ:SNGX) last released its earnings results on Friday, November 9th. The biopharmaceutical company reported ($0.11) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.11). The firm had revenue of $1.40 million for the quarter, compared to analysts’ expectations of $1.40 million. Soligenix had a negative return on equity of 144.47% and a negative net margin of 146.45%. As a group, equities analysts expect that Soligenix will post -0.62 EPS for the current year.

In other news, Director Mark E. Pearson bought 170,000 shares of the business’s stock in a transaction on Wednesday, October 17th. The shares were purchased at an average price of $1.16 per share, for a total transaction of $197,200.00. Following the purchase, the director now owns 2,500,000 shares of the company’s stock, valued at approximately $2,900,000. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 5.03% of the company’s stock.

Several large investors have recently bought and sold shares of SNGX. Virtu Financial LLC acquired a new position in shares of Soligenix during the 3rd quarter worth approximately $116,000. Renaissance Technologies LLC acquired a new position in shares of Soligenix during the 3rd quarter worth approximately $188,000. Finally, Vanguard Group Inc. increased its position in shares of Soligenix by 46.5% during the 3rd quarter. Vanguard Group Inc. now owns 339,732 shares of the biopharmaceutical company’s stock worth $639,000 after purchasing an additional 107,875 shares during the last quarter. 9.13% of the stock is currently owned by hedge funds and other institutional investors.

About Soligenix

Soligenix, Inc, a late-stage biopharmaceutical company, focuses on developing and commercializing products to treat rare diseases in the United States. It operates in two segments, BioTherapeutics and Vaccines/BioDefense. The BioTherapeutics segment develops SGX301, a photodynamic therapy, which is in Phase III clinical trial to treat cutaneous T-cell lymphoma; and SGX942, an innate defense regulator technology that has completed Phase II clinical trial to treat oral mucositis in head and neck cancer.

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