Sol Gel Technologies (NASDAQ:SLGL) Downgraded by ValuEngine to “Hold”

ValuEngine cut shares of Sol Gel Technologies (NASDAQ:SLGL) from a buy rating to a hold rating in a research note issued to investors on Thursday, ValuEngine reports.

A number of other equities analysts also recently commented on SLGL. Zacks Investment Research downgraded Sol Gel Technologies from a buy rating to a hold rating in a report on Friday, July 19th. HC Wainwright increased their price objective on Sol Gel Technologies from $21.00 to $23.00 and gave the stock a buy rating in a report on Tuesday, July 9th.

Shares of SLGL traded down $0.01 during trading hours on Thursday, reaching $10.15. The company’s stock had a trading volume of 12,600 shares, compared to its average volume of 15,650. The company has a market cap of $193.39 million, a price-to-earnings ratio of -5.64 and a beta of 0.49. Sol Gel Technologies has a 1-year low of $5.41 and a 1-year high of $11.36. The company has a current ratio of 8.29, a quick ratio of 8.29 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average of $9.58.

Sol Gel Technologies (NASDAQ:SLGL) last released its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.30. Sol Gel Technologies had a negative return on equity of 64.21% and a negative net margin of 686.02%. The firm had revenue of $6.36 million for the quarter, compared to the consensus estimate of $0.89 million. Equities research analysts anticipate that Sol Gel Technologies will post -1.11 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC acquired a new position in Sol Gel Technologies in the second quarter worth approximately $70,000. Clal Insurance Enterprises Holdings Ltd acquired a new position in Sol Gel Technologies in the first quarter worth approximately $406,000. Finally, Delek Group Ltd. increased its holdings in Sol Gel Technologies by 2.7% in the first quarter. Delek Group Ltd. now owns 1,468,912 shares of the company’s stock worth $9,895,000 after buying an additional 39,151 shares during the last quarter. Hedge funds and other institutional investors own 20.40% of the company’s stock.

Sol Gel Technologies Company Profile

Sol-Gel Technologies Ltd., a clinical-stage specialty pharmaceutical company, focuses on developing and commercializing topical dermatological drug products based on its proprietary microencapsulation delivery system in Israel. The company's lead product candidates include TWIN and SIRS-T, which has completed Phase II clinical trials for the treatment of acne vulgaris; and VERED that has completed Phase II clinical trials for the treatment of papulopustular rosacea.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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