Maxim Group Reaffirms “Buy” Rating for Soligenix (SNGX)

Soligenix (NASDAQ:SNGX)‘s stock had its “buy” rating reiterated by equities research analysts at Maxim Group in a report released on Thursday, AnalystRatings.com reports. They currently have a $4.00 target price on the biopharmaceutical company’s stock. Maxim Group’s target price suggests a potential upside of 441.93% from the company’s current price.

The analysts wrote, “Soligenix reported 1Q19 with a net loss of ($1.6M). The company received $1.1M in non-dilutive funding (grants and RiVax contracts) supporting pipeline programs. Soligenix ended the period with $7.2M in cash, although we anticipate the company should continue to receive non-dilutive funding that will extend the runway.””

NASDAQ SNGX traded down $0.02 on Thursday, hitting $0.74. The company’s stock had a trading volume of 85,815 shares, compared to its average volume of 91,281. Soligenix has a 52-week low of $0.65 and a 52-week high of $2.20. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.46 and a current ratio of 2.20. The stock has a market cap of $12.57 million, a P/E ratio of -1.09 and a beta of 1.22.

Soligenix (NASDAQ:SNGX) last released its quarterly earnings data on Tuesday, May 14th. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.05. Soligenix had a negative return on equity of 140.01% and a negative net margin of 157.34%. The business had revenue of $1.10 million during the quarter, compared to analysts’ expectations of $1.30 million. Sell-side analysts predict that Soligenix will post -0.53 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNGX. Renaissance Technologies LLC purchased a new position in shares of Soligenix in the 3rd quarter valued at approximately $188,000. Vanguard Group Inc. lifted its stake in shares of Soligenix by 46.5% in the 3rd quarter. Vanguard Group Inc. now owns 339,732 shares of the biopharmaceutical company’s stock valued at $639,000 after purchasing an additional 107,875 shares during the period. Finally, Vanguard Group Inc lifted its stake in shares of Soligenix by 46.5% in the 3rd quarter. Vanguard Group Inc now owns 339,732 shares of the biopharmaceutical company’s stock valued at $639,000 after purchasing an additional 107,875 shares during the period. Institutional investors own 9.88% of the company’s stock.

Soligenix Company Profile

Soligenix, Inc, a late-stage biopharmaceutical company, focuses on developing and commercializing products to treat rare diseases in the United States. It operates in two segments, BioTherapeutics and Vaccines/BioDefense. The BioTherapeutics segment develops SGX301, a photodynamic therapy, which is in Phase III clinical trial to treat cutaneous T-cell lymphoma; and SGX942, an innate defense regulator technology that has completed Phase II clinical trial to treat oral mucositis in head and neck cancer.

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