Sol Gel Technologies Ltd (NASDAQ:SLGL) Expected to Post Quarterly Sales of $7.00 Million

Brokerages expect Sol Gel Technologies Ltd (NASDAQ:SLGL) to post $7.00 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Sol Gel Technologies’ earnings. Sol Gel Technologies posted sales of $50,000.00 in the same quarter last year, which suggests a positive year over year growth rate of 13,900%. The business is scheduled to issue its next quarterly earnings report on Wednesday, August 14th.

According to Zacks, analysts expect that Sol Gel Technologies will report full year sales of $25.03 million for the current year, with estimates ranging from $19.00 million to $30.80 million. For the next fiscal year, analysts forecast that the company will post sales of $21.18 million, with estimates ranging from $10.50 million to $29.94 million. Zacks’ sales averages are an average based on a survey of analysts that cover Sol Gel Technologies.

Sol Gel Technologies (NASDAQ:SLGL) last released its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 company had revenue of $6.36 million during the quarter, compared to analysts’ expectations of $0.89 million.

A number of analysts have recently issued reports on SLGL shares. Zacks Investment Research cut Sol Gel Technologies from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. ValuEngine cut Sol Gel Technologies from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, HC Wainwright raised their price objective on Sol Gel Technologies from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th.

Shares of SLGL traded down $0.01 during mid-day trading on Friday, reaching $10.15. The company’s stock had a trading volume of 12,644 shares, compared to its average volume of 34,053. Sol Gel Technologies has a 1-year low of $5.41 and a 1-year high of $11.36. The business’s 50-day moving average price is $9.58. The company has a quick ratio of 8.29, a current ratio of 8.29 and a debt-to-equity ratio of 0.01.

A number of large investors have recently added to or reduced their stakes in SLGL. Clal Insurance Enterprises Holdings Ltd acquired a new stake in Sol Gel Technologies during the 1st quarter worth approximately $406,000. Delek Group Ltd. lifted its holdings in Sol Gel Technologies by 2.7% during the 1st quarter. Delek Group Ltd. now owns 1,468,912 shares of the company’s stock worth $9,895,000 after purchasing an additional 39,151 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new stake in Sol Gel Technologies during the 2nd quarter worth approximately $70,000. 20.40% of the stock is owned by institutional investors and hedge funds.

About Sol Gel Technologies

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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