Sol-Gel Technologies (NASDAQ:SLGL) PT Lowered to $9.00 at HC Wainwright

Sol-Gel Technologies (NASDAQ:SLGL) had its price objective trimmed by HC Wainwright from $12.00 to $9.00 in a research note released on Monday, Benzinga reports. The firm currently has a buy rating on the stock. HC Wainwright also issued estimates for Sol-Gel Technologies’ Q4 2023 earnings at ($0.16) EPS, FY2023 earnings at ($0.99) EPS, Q1 2024 earnings at ($0.15) EPS, Q2 2024 earnings at ($0.16) EPS, Q3 2024 earnings at ($0.17) EPS, Q4 2024 earnings at ($0.16) EPS and FY2024 earnings at ($0.64) EPS.

Separately, Raymond James dropped their target price on shares of Sol-Gel Technologies from $9.00 to $7.00 and set a strong-buy rating for the company in a research report on Friday, August 11th.

Sol-Gel Technologies Stock Up 2.0 %

SLGL stock opened at $1.50 on Monday. The business has a fifty day moving average of $1.66 and a 200-day moving average of $2.69. The company has a market cap of $34.70 million, a P/E ratio of -1.38 and a beta of 1.43. Sol-Gel Technologies has a twelve month low of $1.16 and a twelve month high of $5.71.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLGL. Armistice Capital LLC bought a new position in shares of Sol-Gel Technologies during the 1st quarter valued at about $9,343,000. Yelin Lapidot Holdings Management Ltd. acquired a new position in shares of Sol-Gel Technologies in the third quarter valued at approximately $374,000. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Sol-Gel Technologies by 19.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 59,006 shares of the company’s stock valued at $229,000 after buying an additional 9,656 shares during the period. Raymond James & Associates raised its holdings in shares of Sol-Gel Technologies by 25.4% during the first quarter. Raymond James & Associates now owns 47,492 shares of the company’s stock worth $350,000 after acquiring an additional 9,631 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in Sol-Gel Technologies by 349.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,643 shares of the company’s stock valued at $28,000 after acquiring an additional 4,387 shares in the last quarter. 34.10% 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 identifying, developing, and commercializing topical dermatological drug products based on its proprietary microencapsulation delivery system in Israel. The company's lead product candidates include Twyneo, a novel, once-daily, non-antibiotic topical cream which has completed Phase III clinical trials for the treatment of acne vulgaris; Epsolay, a once-daily topical cream that has completed Phase III clinical trials for the treatment of papulopustular rosacea; SGT-210, which is in Phase I clinical trial for the treatment of palmoplantar keratoderma; SGT-610, a rare disease for the treatment of Gorlin Syndrome which has completed Phase II clinical trials; and Erlotinib and Tapinarof to treat other rare skin indications.