Sol-Gel Technologies (SLGL) to Release Quarterly Earnings on Wednesday

by · The Markets Daily

Sol-Gel Technologies (NASDAQ:SLGLGet Free Report) will likely be posting its results before the market opens on Wednesday, March 11th. Analysts expect Sol-Gel Technologies to post earnings of $0.39 per share and revenue of $6.50 million for the quarter.

Sol-Gel Technologies Price Performance

Sol-Gel Technologies stock opened at $83.12 on Tuesday. The stock has a market cap of $231.89 million, a price-to-earnings ratio of -25.50 and a beta of 1.30. The firm has a 50-day moving average of $67.94 and a two-hundred day moving average of $46.34. Sol-Gel Technologies has a 1 year low of $4.02 and a 1 year high of $97.97.

Insiders Place Their Bets

In other Sol-Gel Technologies news, major shareholder Opaleye Management Inc. bought 35,169 shares of Sol-Gel Technologies stock in a transaction that occurred on Tuesday, December 30th. The shares were bought at an average cost of $41.99 per share, with a total value of $1,476,746.31. Following the transaction, the insider directly owned 421,242 shares of the company’s stock, valued at approximately $17,687,951.58. This represents a 9.11% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders acquired 75,368 shares of company stock worth $3,206,907. 66.51% of the stock is owned by insiders.

Hedge Funds Weigh In On Sol-Gel Technologies

A hedge fund recently raised its stake in Sol-Gel Technologies stock. Opaleye Management Inc. increased its stake in Sol-Gel Technologies Ltd. (NASDAQ:SLGLFree Report) by 121.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 453,739 shares of the company’s stock after purchasing an additional 248,904 shares during the period. Sol-Gel Technologies accounts for about 2.5% of Opaleye Management Inc.’s portfolio, making the stock its 9th largest position. Opaleye Management Inc. owned about 16.29% of Sol-Gel Technologies worth $19,121,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 26.18% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on SLGL. HC Wainwright reiterated a “buy” rating and issued a $110.00 price target (up from $50.00) on shares of Sol-Gel Technologies in a report on Tuesday, January 20th. Weiss Ratings restated a “hold (c)” rating on shares of Sol-Gel Technologies in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Sol-Gel Technologies has an average rating of “Hold” and an average price target of $110.00.

Read Our Latest Stock Report on SLGL

About Sol-Gel Technologies

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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.

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