Sol-Gel Technologies (NASDAQ:SLGL) Posts Earnings Results, Beats Expectations By $1.55 EPS

Sol-Gel Technologies (NASDAQ:SLGL) announced its quarterly earnings data on Thursday. The company reported ($1.31) EPS for the quarter, topping analysts’ consensus estimates of ($2.86) by $1.55, Zacks reports. Sol-Gel Technologies had a negative net margin of 31.60% and a negative return on equity of 24.29%.

Sol-Gel Technologies Trading Down 0.9%

NASDAQ SLGL opened at $73.80 on Thursday. Sol-Gel Technologies has a 12 month low of $6.80 and a 12 month high of $97.97. The stock has a 50 day moving average of $73.89 and a 200-day moving average of $63.18. The company has a market cap of $207.38 million, a PE ratio of -33.09 and a beta of 1.16.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SLGL. Weiss Ratings lowered shares of Sol-Gel Technologies from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, May 22nd. Wall Street Zen downgraded shares of Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Lifesci Capital upgraded Sol-Gel Technologies to a “strong-buy” rating in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $110.00.

Insiders Place Their Bets

In other news, major shareholder Opaleye Management Inc. purchased 1,937 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were purchased at an average cost of $66.87 per share, with a total value of $129,527.19. Following the completion of the transaction, the insider owned 488,437 shares of the company’s stock, valued at $32,661,782.19. The trade was a 0.40% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 66.51% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Sol-Gel Technologies stock. Opaleye Management Inc. lifted its position 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 (SEC). The fund owned 453,739 shares of the company’s stock after purchasing an additional 248,904 shares during the period. Sol-Gel Technologies accounts for 2.5% of Opaleye Management Inc.’s portfolio, making the stock its 9th largest holding. Opaleye Management Inc. owned 16.29% of Sol-Gel Technologies worth $19,121,000 at the end of the most recent reporting period. Institutional investors own 26.18% of the company’s stock.

About Sol-Gel Technologies

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.