Sol-Gel Technologies (NASDAQ:SLGL) Now Covered by Analysts at Mizuho

Mizuho started coverage on shares of Sol-Gel Technologies (NASDAQ:SLGL) in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage set an “outperform” rating and a $285.00 price target on the stock. Mizuho’s target price points to a potential upside of 299.94% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. TD Cowen initiated coverage on shares of Sol-Gel Technologies in a research report on Friday, May 29th. They set a “buy” rating for the company. Lifesci Capital upgraded Sol-Gel Technologies to a “strong-buy” rating in a research report on Friday, May 15th. Wall Street Zen lowered shares of Sol-Gel Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Weiss Ratings lowered shares of Sol-Gel Technologies from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Sol-Gel Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $197.50.

Sol-Gel Technologies Price Performance

Shares of NASDAQ:SLGL opened at $71.26 on Wednesday. Sol-Gel Technologies has a 12 month low of $6.96 and a 12 month high of $97.97. The firm has a market capitalization of $200.24 million, a price-to-earnings ratio of -209.58 and a beta of 1.13. The business’s 50 day simple moving average is $73.01 and its 200-day simple moving average is $68.17.

Sol-Gel Technologies (NASDAQ:SLGL) last issued its quarterly earnings data on Thursday, May 28th. The company reported ($1.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.86) by $1.55. The firm had revenue of $0.11 million during the quarter, compared to analysts’ expectations of $0.90 million. Sol-Gel Technologies had a negative return on equity of 3.17% and a negative net margin of 5.66%. On average, equities analysts anticipate that Sol-Gel Technologies will post -8.99 earnings per share for the current year.

Insider Transactions at Sol-Gel Technologies

In other Sol-Gel Technologies news, major shareholder Opaleye Management Inc. purchased 1,937 shares of the firm’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 purchase, the insider owned 488,437 shares in the company, valued at approximately $32,661,782.19. This represents a 0.40% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 66.51% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Yelin Lapidot Holdings Management Ltd. purchased a new position in shares of Sol-Gel Technologies during the 4th quarter worth about $748,000. Affinity Asset Advisors LLC purchased a new position in Sol-Gel Technologies during the first quarter worth approximately $2,773,000. Finally, Opaleye Management Inc. raised its stake in Sol-Gel Technologies by 121.5% during the fourth quarter. Opaleye Management Inc. now owns 453,739 shares of the company’s stock worth $19,121,000 after purchasing an additional 248,904 shares during the period. Institutional investors and hedge funds 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.