Sol Gel Technologies Ltd (SLGL) Receives Average Recommendation of “Buy” from Analysts

Sol Gel Technologies Ltd (NASDAQ:SLGL) has earned a consensus recommendation of “Buy” from the six brokerages that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $19.00.

SLGL has been the topic of several research analyst reports. HC Wainwright set a $21.00 price objective on shares of Sol Gel Technologies and gave the stock a “buy” rating in a research note on Tuesday, October 9th. Zacks Investment Research upgraded shares of Sol Gel Technologies from a “hold” rating to a “buy” rating and set a $6.75 price target on the stock in a research note on Wednesday, December 12th. Finally, ValuEngine downgraded shares of Sol Gel Technologies from a “buy” rating to a “hold” rating in a research note on Friday, December 21st.

A hedge fund recently bought a new stake in Sol Gel Technologies stock. Raymond James & Associates purchased a new position in shares of Sol Gel Technologies Ltd (NASDAQ:SLGL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 13,260 shares of the company’s stock, valued at approximately $102,000. Raymond James & Associates owned approximately 0.07% of Sol Gel Technologies at the end of the most recent reporting period. 20.37% of the stock is owned by hedge funds and other institutional investors.

Shares of Sol Gel Technologies stock traded down $0.16 during midday trading on Monday, hitting $5.83. The company had a trading volume of 590 shares, compared to its average volume of 5,375. The company has a market cap of $113.54 million and a price-to-earnings ratio of -1.16. Sol Gel Technologies has a 1-year low of $5.41 and a 1-year high of $16.48.

Sol Gel Technologies (NASDAQ:SLGL) last announced its quarterly earnings data on Tuesday, November 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.16. The company had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.05 million. On average, analysts anticipate that Sol Gel Technologies will post -1.8 earnings per share for the current year.

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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