Sol-Gel Technologies (NASDAQ:SLGL) Releases Earnings Results

Sol-Gel Technologies (NASDAQ:SLGL) issued its quarterly earnings data on Thursday. The company reported ($1.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.36) by $1.23, FiscalAI reports. Sol-Gel Technologies had a negative net margin of 5.66% and a negative return on equity of 3.17%. The business had revenue of $0.59 million during the quarter, compared to the consensus estimate of $0.07 million.

Sol-Gel Technologies Stock Down 0.9%

Shares of NASDAQ SLGL opened at $78.59 on Thursday. The firm has a market cap of $220.84 million, a price-to-earnings ratio of -231.14 and a beta of 1.12. The company’s 50-day simple moving average is $78.32 and its 200-day simple moving average is $76.51. Sol-Gel Technologies has a 52-week low of $16.50 and a 52-week high of $97.97.

Analyst Ratings Changes

Several brokerages recently weighed in on SLGL. Lifesci Capital upgraded Sol-Gel Technologies to a “strong-buy” rating in a research note on Friday, May 15th. Wall Street Zen downgraded Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. HC Wainwright reissued a “buy” rating and issued a $110.00 price objective on shares of Sol-Gel Technologies in a report on Monday, July 20th. Weiss Ratings cut Sol-Gel Technologies from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Thursday, June 4th. Finally, Mizuho started coverage on Sol-Gel Technologies in a research note on Wednesday, June 24th. They set an “outperform” rating and a $285.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $197.50.

Insider Buying and Selling at Sol-Gel Technologies

In related news, major shareholder Opaleye Management Inc. purchased 1,400 shares of Sol-Gel Technologies stock in a transaction that occurred on Thursday, July 2nd. The stock was purchased at an average price of $71.97 per share, for a total transaction of $100,758.00. Following the transaction, the insider directly owned 491,712 shares in the company, valued at approximately $35,388,512.64. This trade represents a 0.29% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In the last three months, insiders have bought 2,241 shares of company stock worth $162,260. 66.51% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sol-Gel Technologies

A hedge fund recently raised its stake in Sol-Gel Technologies stock. Opaleye Management Inc. grew its position in Sol-Gel Technologies Ltd. (NASDAQ:SLGL) by 121.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 453,739 shares of the company’s stock after acquiring an additional 248,904 shares during the quarter. Sol-Gel Technologies comprises 2.5% of Opaleye Management Inc.’s holdings, making the stock its 9th largest position. Opaleye Management Inc. owned 16.29% of Sol-Gel Technologies worth $19,121,000 at the end of the most recent reporting period. Institutional investors own 26.18% of the company’s stock.

Sol-Gel Technologies Company Profile

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.