Soligenix (NASDAQ:SNGX) Announces Earnings Results, Beats Expectations By $0.05 EPS

Soligenix (NASDAQ:SNGX) announced its earnings results on Friday. The biopharmaceutical company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.05, Zacks reports.

Soligenix Stock Up 7.0%

SNGX traded up $0.09 during trading on Friday, hitting $1.37. The company’s stock had a trading volume of 271,245 shares, compared to its average volume of 3,663,262. The firm has a market capitalization of $5.87 million, a P/E ratio of -0.36 and a beta of 2.00. Soligenix has a twelve month low of $1.09 and a twelve month high of $6.23. The stock’s fifty day moving average price is $1.94 and its 200-day moving average price is $1.99.

Analyst Ratings Changes

Several brokerages have recently weighed in on SNGX. Weiss Ratings reissued a “sell (e+)” rating on shares of Soligenix in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Soligenix to a “strong sell” rating in a research report on Saturday, August 16th. Finally, Alliance Global Partners dropped their price target on shares of Soligenix from $10.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $6.00.

Soligenix Company Profile

Soligenix, Inc, a late-stage biopharmaceutical company, focuses on developing and commercializing products to treat rare diseases in the United States. The company operates through two segments, Specialized BioTherapeutics and Public Health Solutions. The Specialized BioTherapeutics segment develops SGX301 (HyBryte), a novel photodynamic therapy, which has completed Phase III clinical trial for the treatment of cutaneous T-cell lymphoma; SGX942, an innate defense regulator technology that is in Phase III clinical trial for the treatment of inflammatory diseases, including oral mucositis in head and neck cancer; SGX302, an IDR technology which is in Phase IIa study to treat mil-to-moderate Psoriasis; and SGX945 and IDR technology that is in Phase IIa protocol for the treatment of Aphthous Ulcers in Behçet's Disease.