Sol-Gel Technologies (NASDAQ:SLGL) Releases Earnings Results, Beats Expectations By $0.35 EPS

Sol-Gel Technologies (NASDAQ:SLGL) announced its quarterly earnings results on Thursday. The company reported ($1.72) EPS for the quarter, beating analysts’ consensus estimates of ($2.07) by $0.35, FiscalAI reports. Sol-Gel Technologies had a negative net margin of 910.14% and a negative return on equity of 44.05%. The company had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.15 million.

Sol-Gel Technologies Price Performance

Shares of NASDAQ:SLGL opened at $57.91 on Friday. The firm has a fifty day moving average price of $66.95 and a two-hundred day moving average price of $73.85. The company has a market cap of $189.35 million, a price-to-earnings ratio of -10.02 and a beta of 1.25. Sol-Gel Technologies has a one year low of $28.81 and a one year high of $97.97.

Insider Buying and Selling at Sol-Gel Technologies

In other Sol-Gel Technologies news, major shareholder Opaleye Management Inc. acquired 35,113 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was bought at an average price of $69.32 per share, with a total value of $2,434,033.16. Following the completion of the purchase, the insider owned 520,000 shares of the company’s stock, valued at approximately $36,046,400. This represents a 7.24% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have acquired a total of 53,430 shares of company stock valued at $3,684,739 over the last quarter. Corporate insiders own 66.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sol-Gel Technologies in a report on Tuesday, September 1st. HC Wainwright reiterated a “buy” rating and issued a $110.00 price target on shares of Sol-Gel Technologies in a research report on Monday, October 19th. Cantor Fitzgerald began coverage on Sol-Gel Technologies in a research note on Wednesday, October 14th. They set an “overweight” rating on the stock. Finally, Zacks Research raised Sol-Gel Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Sol-Gel Technologies currently has a consensus rating of “Buy” and a consensus target price of $197.50.

Sol-Gel Technologies Company Profile

Sol-Gel Technologies is an Israel-based dermatology company that develops topical treatments for skin conditions. Its proprietary technology uses silica-based microencapsulation to formulate active ingredients for topical use. The company’s products include Epsolay, a benzoyl peroxide cream approved in the United States for inflammatory lesions of rosacea, and Twyneo, a topical combination of tretinoin and benzoyl peroxide approved for acne vulgaris. Sol-Gel has pursued commercialization and licensing opportunities in the United States and other markets.