Maxim Group restated their buy rating on shares of Soligenix Inc. (NASDAQ:SNGX) in a research report report published on Wednesday. They currently have a $5.00 price objective on the biopharmaceutical company’s stock.

“Soligenix just announced yet another grant, this time $1.5M from the National Institute of Dental and Craniofacial Research (NIDCR), part of the National Institute of Health (NIH) Small Business Innovation Research (SBIR) grant.”,” Maxim Group’s analyst wrote.

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

Soligenix (SNGX) opened at 2.27 on Wednesday. Soligenix has a 12-month low of $1.90 and a 12-month high of $8.50. The company’s 50 day moving average price is $2.18 and its 200-day moving average price is $2.43. The firm’s market capitalization is $12.99 million.

Soligenix (NASDAQ:SNGX) last issued its quarterly earnings results on Friday, August 11th. The biopharmaceutical company reported ($0.41) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.09). The business had revenue of $1.00 million for the quarter, compared to the consensus estimate of $1.43 million. Soligenix had a negative return on equity of 129.88% and a negative net margin of 86.15%. On average, equities analysts anticipate that Soligenix will post ($1.48) earnings per share for the current fiscal year.

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About Soligenix

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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