Sol-Gel Technologies (NASDAQ:SLGL) Issues Quarterly Earnings Results

Sol-Gel Technologies (NASDAQ:SLGL) issued its quarterly earnings results on Thursday. The company reported ($1.13) EPS for the quarter, topping analysts’ consensus estimates of ($2.36) by $1.23, FiscalAI reports. Sol-Gel Technologies had a negative return on equity of 48.89% and a negative net margin of 910.14%.The company had revenue of $0.59 million during the quarter, compared to analyst estimates of $0.07 million.

Sol-Gel Technologies Stock Down 1.0%

Sol-Gel Technologies stock opened at $77.73 on Friday. The business has a 50 day moving average price of $78.47 and a two-hundred day moving average price of $76.62. The stock has a market cap of $218.42 million, a price-to-earnings ratio of -13.78 and a beta of 1.12. Sol-Gel Technologies has a 12 month low of $20.06 and a 12 month high of $97.97.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Lifesci Capital upgraded shares of Sol-Gel Technologies to a “strong-buy” rating in a research note on Friday, May 15th. TD Cowen started coverage on shares of Sol-Gel Technologies in a research note on Friday, May 29th. They set a “buy” rating for the company. HC Wainwright reissued a “buy” rating and issued a $110.00 price target on shares of Sol-Gel Technologies in a report on Monday, July 20th. Weiss Ratings downgraded shares of Sol-Gel Technologies from a “sell (d+)” rating to a “sell (d-)” rating in a report on Thursday, June 4th. Finally, Mizuho started coverage on shares of Sol-Gel Technologies in a research report on Wednesday, June 24th. They issued an “outperform” rating and a $285.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $197.50.

Insider Activity at Sol-Gel Technologies

In other news, major shareholder Opaleye Management Inc. acquired 1,400 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were bought at an average price of $71.97 per share, with a total value of $100,758.00. Following the acquisition, the insider owned 491,712 shares of the company’s stock, valued at $35,388,512.64. This trade represents a 0.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders purchased 2,241 shares of company stock valued at $162,260. 66.51% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

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.