Sol Gel Technologies Ltd (NASDAQ:SLGL) – Stock analysts at Jefferies Financial Group boosted their FY2023 earnings estimates for Sol Gel Technologies in a research note issued on Thursday, May 23rd. Jefferies Financial Group analyst D. Steinberg now expects that the company will post earnings per share of $0.19 for the year, up from their previous estimate of $0.17.

Sol Gel Technologies (NASDAQ:SLGL) last issued its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.60) by $0.30. The firm had revenue of $6.36 million for the quarter, compared to analyst estimates of $0.89 million. Sol Gel Technologies had a negative return on equity of 58.33% and a negative net margin of 20,190.54%.

Other equities analysts also recently issued research reports about the company. HC Wainwright set a $21.00 price objective on Sol Gel Technologies and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Zacks Investment Research upgraded Sol Gel Technologies from a “hold” rating to a “buy” rating and set a $7.25 target price on the stock in a research report on Tuesday, February 12th.

Shares of Sol Gel Technologies stock opened at $8.25 on Friday. Sol Gel Technologies has a one year low of $5.41 and a one year high of $9.96. The company has a market cap of $156.02 million, a P/E ratio of -4.58 and a beta of 0.91.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Clal Insurance Enterprises Holdings Ltd bought a new position in Sol Gel Technologies during the first quarter worth about $406,000. Delek Group Ltd. boosted its position in Sol Gel Technologies by 2.7% during the first 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 period. BlackRock Inc. bought a new position in Sol Gel Technologies during the first quarter worth about $36,000. Raymond James & Associates boosted its position in Sol Gel Technologies by 81.2% during the first quarter. Raymond James & Associates now owns 41,060 shares of the company’s stock worth $281,000 after purchasing an additional 18,400 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its position in Sol Gel Technologies by 3.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 47,149 shares of the company’s stock worth $322,000 after purchasing an additional 1,508 shares during the period. 20.41% of the stock is owned by hedge funds and other institutional investors.

Sol Gel Technologies Company Profile

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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