Sonoma Pharmaceuticals, Inc. (SNOA) Price Target Raised to $11.00 at Maxim Group
Sonoma Pharmaceuticals, Inc. (NASDAQ:SNOA) had its target price raised by Maxim Group from $10.00 to $11.00 in a report published on Friday morning. Maxim Group currently has a buy rating on the stock.
“Sonoma reported F2Q18 (fiscal YE Mar. 31) results; total product sales were $4.1M, up from the prior period driven by organic growth in Alevicyn, Celacyn and Mondoxyne. Dermatology revenues were up 36% versus prior quarter (June 2017), and scripps growth up 14% (Sept. quarter versus June) and 24% versus the March quarter. The company reported an operational loss of $2.8M and ended the period with $10M in cash, runway to support the company as sales climb and they push towards positive free cash flow. Business Highlights:.”,” the firm’s analyst commented.
Separately, ValuEngine downgraded Sonoma Pharmaceuticals from a hold rating to a sell rating in a report on Friday, September 1st.
Sonoma Pharmaceuticals (NASDAQ SNOA) traded down $0.14 during midday trading on Friday, reaching $4.31. The company had a trading volume of 23,800 shares, compared to its average volume of 30,519. Sonoma Pharmaceuticals has a 52 week low of $4.16 and a 52 week high of $8.25. The company has a quick ratio of 5.68, a current ratio of 6.48 and a debt-to-equity ratio of 0.02.
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A hedge fund recently raised its stake in Sonoma Pharmaceuticals stock. Janus Capital Management LLC increased its holdings in Sonoma Pharmaceuticals, Inc. (NASDAQ:SNOA) by 41.1% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 37,926 shares of the company’s stock after buying an additional 11,053 shares during the quarter. Janus Capital Management LLC owned about 0.89% of Sonoma Pharmaceuticals worth $272,000 at the end of the most recent reporting period. 9.72% of the stock is owned by institutional investors and hedge funds.
About Sonoma Pharmaceuticals
Sonoma Pharmaceuticals, Inc, formerly Oculus Innovative Sciences, Inc, is a specialty pharmaceutical company that develops and markets solutions for the treatment of dermatological conditions and advanced tissue care. The Company’s product portfolio consists of dermatology and advanced tissue care products based upon its technologies, such as Microcyn and Lipogrid.
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