Wall Street Zen Upgrades Sol-Gel Technologies (NASDAQ:SLGL) to Buy

Sol-Gel Technologies (NASDAQ:SLGL) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Several other research analysts have also recently issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $110.00 price objective (up from $50.00) on shares of Sol-Gel Technologies in a research note on Tuesday, January 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Sol-Gel Technologies in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $110.00.

Sol-Gel Technologies Price Performance

Shares of SLGL opened at $72.97 on Friday. The firm has a market capitalization of $205.05 million, a price-to-earnings ratio of -32.72 and a beta of 1.30. Sol-Gel Technologies has a 1-year low of $4.02 and a 1-year high of $97.97. The company has a 50-day moving average of $74.21 and a 200 day moving average of $50.12.

Sol-Gel Technologies (NASDAQ:SLGL) last issued its earnings results on Thursday, March 19th. The company reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($1.46). The company had revenue of $0.70 million during the quarter, compared to the consensus estimate of $6.50 million. Sol-Gel Technologies had a negative return on equity of 24.29% and a negative net margin of 31.60%. On average, equities analysts anticipate that Sol-Gel Technologies will post -0.28 earnings per share for the current fiscal year.

Insider Activity

In other Sol-Gel Technologies news, major shareholder Opaleye Management Inc. acquired 35,169 shares of the business’s stock in a transaction that occurred on Tuesday, December 30th. The shares were bought at an average cost of $41.99 per share, with a total value of $1,476,746.31. Following the completion of the acquisition, the insider directly owned 421,242 shares in the company, valued at $17,687,951.58. This represents a 9.11% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased 71,614 shares of company stock worth $3,054,564 in the last 90 days. 66.51% of the stock is currently owned by company insiders.

Institutional Trading of Sol-Gel Technologies

A hedge fund recently raised its stake in Sol-Gel Technologies stock. Opaleye Management Inc. raised its stake in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL) by 121.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 453,739 shares of the company’s stock after acquiring an additional 248,904 shares during the quarter. Sol-Gel Technologies makes up about 2.5% of Opaleye Management Inc.’s portfolio, making the stock its 9th biggest position. Opaleye Management Inc. owned approximately 16.29% of Sol-Gel Technologies worth $19,121,000 as of its most recent filing with the Securities and Exchange Commission. 26.18% of the stock is owned by institutional investors and hedge funds.

Sol-Gel Technologies Company Profile

Sol-Gel Technologies, Inc (NASDAQ: SLGL) is a U.S.-based advanced materials company specializing in the development and commercialization of nanostructured materials using proprietary sol-gel processes. Leveraging expertise in materials chemistry and thin-film deposition, the company focuses on the production of metal oxide powders, sols, coatings and functional inks designed to enhance performance in a variety of industrial and commercial applications.

The company’s product portfolio includes corrosion- and abrasion-resistant coatings, dielectric and conductive films, catalyst supports and specialty fillers.