Maxim Group Analysts Give Soligenix (SNGX) a $5.00 Price Target
Soligenix (NASDAQ:SNGX) has been given a $5.00 target price by equities researchers at Maxim Group in a note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Maxim Group’s target price indicates a potential upside of 108.33% from the stock’s previous close.
Separately, HC Wainwright reissued a “buy” rating and set a $5.50 price objective (down previously from $11.00) on shares of Soligenix in a research report on Monday, November 6th.
Soligenix (NASDAQ SNGX) traded up $0.16 during midday trading on Wednesday, hitting $2.40. The company had a trading volume of 114,841 shares, compared to its average volume of 332,450. Soligenix has a fifty-two week low of $1.74 and a fifty-two week high of $5.08. The firm has a market cap of $19.56, a PE ratio of -2.38 and a beta of 2.17.
Soligenix (NASDAQ:SNGX) last posted its quarterly earnings data on Monday, November 6th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.15. Soligenix had a negative return on equity of 112.81% and a negative net margin of 90.93%. The business had revenue of $1.82 million during the quarter, compared to analysts’ expectations of $1.36 million. equities analysts anticipate that Soligenix will post -1.28 EPS for the current year.
In other news, insider Spa Essetifin purchased 293,510 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were purchased at an average cost of $2.12 per share, for a total transaction of $622,241.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.03% of the company’s stock.
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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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