Sol Gel Technologies (SLGL) Earns Buy Rating from HC Wainwright
HC Wainwright reissued their buy rating on shares of Sol Gel Technologies (NASDAQ:SLGL) in a research report sent to investors on Wednesday morning. HC Wainwright currently has a $21.00 price objective on the stock.
“We have valued Sol-Gel based on a discounted cash flow (DCF) analysis. This yields a value of $102M for TWIN, assuming a 50% probability of success, and a $323M valuation for Epsolay, assuming a 60% probability of success.”,” the firm’s analyst commented.
A number of other equities analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Sol Gel Technologies from a hold rating to a buy rating and set a $7.75 target price for the company in a research note on Tuesday, November 20th. ValuEngine upgraded shares of Sol Gel Technologies from a hold rating to a buy rating in a report on Monday, August 20th. Six equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of Buy and an average target price of $16.75.
Sol Gel Technologies (NASDAQ:SLGL) last announced its earnings results on Tuesday, November 13th. The company reported ($0.40) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.56) by $0.16. The business had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.05 million. On average, sell-side analysts expect that Sol Gel Technologies will post -1.8 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of SLGL. Raymond James & Associates purchased a new stake in shares of Sol Gel Technologies during the second quarter valued at approximately $102,000. Alpine Global Management LLC purchased a new stake in shares of Sol Gel Technologies during the second quarter valued at approximately $118,000. Finally, Delek Group Ltd. boosted its holdings in Sol Gel Technologies by 22.3% in the second quarter. Delek Group Ltd. now owns 1,269,816 shares of the company’s stock worth $9,803,000 after purchasing an additional 231,786 shares during the last quarter. Hedge funds and other institutional investors own 20.37% of the company’s stock.
About Sol Gel Technologies
Sol-Gel Technologies Ltd., a clinical-stage specialty pharmaceutical company, focuses on developing and commercializing topical dermatological drug products based on its proprietary microencapsulation delivery system in Israel. The company's lead product candidates include TWIN and SIRS-T, which has completed Phase II clinical trials for the treatment of acne vulgaris; and VERED that has completed Phase II clinical trials for the treatment of papulopustular rosacea.
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