Sol-Gel Technologies (NASDAQ:SLGL) Stock Rating Upgraded by Zacks Research

Sol-Gel Technologies (NASDAQ:SLGL) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday, Zacks reports.

Several other brokerages have also issued reports on SLGL. HC Wainwright reiterated a “buy” rating on shares of Sol-Gel Technologies in a research note on Tuesday, October 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Sol-Gel Technologies in a research note on Tuesday, September 1st. Mizuho began coverage on shares of Sol-Gel Technologies in a report on Wednesday, June 24th. They set an “outperform” rating and a $285.00 price target on the stock. Finally, Cantor Fitzgerald assumed coverage on shares of Sol-Gel Technologies in a research note on Wednesday. They issued an “overweight” rating for the company. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $197.50.

Sol-Gel Technologies Stock Performance

SLGL traded down $4.45 on Thursday, reaching $64.25. The company had a trading volume of 69,824 shares, compared to its average volume of 41,643. Sol-Gel Technologies has a 52-week low of $28.81 and a 52-week high of $97.97. The company has a market cap of $210.10 million, a price-to-earnings ratio of -11.39 and a beta of 1.14. The business has a 50 day simple moving average of $71.35 and a 200 day simple moving average of $74.04.

Sol-Gel Technologies (NASDAQ:SLGL) last released its earnings results on Friday, August 21st. The company reported ($1.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.36) by $1.23. Sol-Gel Technologies had a negative return on equity of 44.05% and a negative net margin of 910.14%. The company had revenue of $0.59 million during the quarter, compared to the consensus estimate of $0.07 million. As a group, equities research analysts predict that Sol-Gel Technologies will post -5.37 EPS for the current fiscal year.

Insider Transactions at Sol-Gel Technologies

In other Sol-Gel Technologies news, major shareholder Opaleye Management Inc. purchased 1,493 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were bought at an average cost of $65.94 per share, with a total value of $98,448.42. Following the acquisition, the insider owned 540,000 shares in the company, valued at approximately $35,607,600. This trade represents a 0.28% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders purchased 53,430 shares of company stock worth $3,684,739. 66.51% of the stock is currently owned by company insiders.

Institutional Trading of Sol-Gel Technologies

An institutional investor recently bought a new position in Sol-Gel Technologies stock. Navellier & Associates Inc. purchased a new stake in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,785 shares of the company’s stock, valued at approximately $429,000. Navellier & Associates Inc. owned about 0.21% of Sol-Gel Technologies at the end of the most recent quarter. Institutional investors own 26.18% of the company’s stock.

About Sol-Gel Technologies

Sol-Gel Technologies Ltd. (NASDAQ: SLGL) is an Israeli specialty pharmaceutical company focused on developing and commercializing topical dermatological treatments. The company uses proprietary silica-based microsponge technology designed to encapsulate and gradually release active pharmaceutical ingredients in the skin.

Its marketed products include TWYNEO, a topical cream combining tretinoin and benzoyl peroxide for the treatment of acne vulgaris, and EPSOLAY, a topical benzoyl peroxide cream for the treatment of inflammatory lesions associated with rosacea.