Sonoma Pharmaceuticals (SNOA) PT Set at $7.00 by Maxim Group
Sonoma Pharmaceuticals (NASDAQ:SNOA) has been given a $7.00 target price by stock analysts at Maxim Group in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the stock. Maxim Group’s price objective suggests a potential upside of 57.30% from the stock’s previous close.
The analysts wrote, “Sonoma reported strong sequential growth (F3Q18) with gross revenues of $4.8M driven by US and Latin America, up 46% versus the same period a year ago. US Dermatology was $2.2M up 78% versus last year. New products were a key driver of growth for the company. Net revenues were $2.9M, also showing strong growth at the prescribers level. The impact of 30 sales reps and five senior managers is manifesting as top line revenues. US revenues now represent more than 2/3 of all revenues with solid margins. The company closed the quarter with $8.6M in cash on the balance sheet.””
A number of other research analysts also recently issued reports on SNOA. Zacks Investment Research upgraded Sonoma Pharmaceuticals from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a research note on Wednesday, January 10th. Benchmark started coverage on Sonoma Pharmaceuticals in a research note on Thursday, December 28th. They set a “speculative buy” rating and a $10.00 price objective for the company.
A hedge fund recently bought a new stake in Sonoma Pharmaceuticals stock. Deutsche Bank AG acquired a new stake in shares of Sonoma Pharmaceuticals Inc (NASDAQ:SNOA) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 25,141 shares of the company’s stock, valued at approximately $137,000. Deutsche Bank AG owned 0.54% of Sonoma Pharmaceuticals at the end of the most recent quarter. Institutional investors and hedge funds own 9.00% of the company’s stock.
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Sonoma Pharmaceuticals Company Profile
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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