Sol-Gel Technologies (NASDAQ:SLGL) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage on shares of Sol-Gel Technologies (NASDAQ:SLGL) in a research report report published on Wednesday morning, MarketBeat reports. The brokerage issued an overweight rating on the stock.

Several other brokerages also recently commented on SLGL. Mizuho initiated coverage on Sol-Gel Technologies in a research report on Wednesday, June 24th. They issued an “outperform” rating and a $285.00 price target on the stock. HC Wainwright reiterated a “buy” rating on shares of Sol-Gel Technologies in a report on Tuesday, October 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Sol-Gel Technologies in a report on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $197.50.

Sol-Gel Technologies Stock Performance

Shares of NASDAQ:SLGL opened at $64.25 on Wednesday. The company has a market cap of $210.10 million, a P/E ratio of -11.39 and a beta of 1.14. The stock’s 50-day moving average is $71.35 and its 200-day moving average is $74.04. Sol-Gel Technologies has a 52-week low of $28.81 and a 52-week high of $97.97.

Sol-Gel Technologies (NASDAQ:SLGL) last posted its quarterly earnings data on Friday, August 21st. The company reported ($1.13) EPS 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 business had revenue of $0.59 million for the quarter, compared to analyst estimates of $0.07 million. As a group, equities analysts predict that Sol-Gel Technologies will post -5.37 EPS for the current year.

Insider Transactions at Sol-Gel Technologies

In related news, major shareholder Opaleye Management Inc. purchased 1,493 shares of the firm’s stock in a transaction on Friday, September 11th. The shares were bought at an average cost of $65.94 per share, for a total transaction of $98,448.42. Following the transaction, the insider directly owned 540,000 shares of the company’s stock, valued at approximately $35,607,600. This trade represents a 0.28% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders have acquired 53,430 shares of company stock valued at $3,684,739. Company insiders own 66.51% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sol-Gel Technologies stock. Navellier & Associates Inc. bought a new position in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,785 shares of the company’s stock, valued at approximately $429,000. Navellier & Associates Inc. owned approximately 0.21% of Sol-Gel Technologies as of its most recent SEC filing. 26.18% of the stock is currently owned by hedge funds and other institutional investors.

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.