Sol-Gel Technologies (NASDAQ:SLGL) Cut to Outperform at Raymond James

Raymond James cut shares of Sol-Gel Technologies (NASDAQ:SLGL) from a strong-buy rating to an outperform rating in a research note published on Monday morning, MarketBeat.com reports. Raymond James currently has $4.00 target price on the stock, down from their prior target price of $6.00.

Separately, HC Wainwright lowered their price target on Sol-Gel Technologies from $9.00 to $6.00 and set a buy rating for the company in a report on Monday, May 20th.

Sol-Gel Technologies Stock Performance

Sol-Gel Technologies stock opened at $0.60 on Monday. The company’s 50 day simple moving average is $0.69 and its 200-day simple moving average is $0.85. Sol-Gel Technologies has a 1 year low of $0.33 and a 1 year high of $2.99. The company has a market capitalization of $16.72 million, a price-to-earnings ratio of -0.72 and a beta of 1.54.

Sol-Gel Technologies (NASDAQ:SLGL) last issued its quarterly earnings results on Friday, August 16th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.27. The business had revenue of $5.43 million for the quarter, compared to analysts’ expectations of $1.06 million. Sol-Gel Technologies had a negative net margin of 227.40% and a negative return on equity of 39.11%. Equities analysts expect that Sol-Gel Technologies will post -0.83 earnings per share for the current year.

About Sol-Gel Technologies

Sol-Gel Technologies Ltd., together with its subsidiary Sol-Gel Technologies Inc, develops topical dermatological drugs for patients with severe skin conditions in Israel. The company offers Twyneo, a once-daily, non-antibiotic topical cream for the treatment of acne vulgaris; and Epsolay, a once-daily topical cream for the treatment of papulopustular (subtype II) rosacea.