Maxim Group Reiterates “$5.00” Price Target for Soligenix Inc. (SNGX)

Maxim Group set a $5.00 price target on Soligenix Inc. (NASDAQ:SNGX) in a report released on Tuesday. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright set a $11.00 price target on Soligenix and gave the stock a buy rating in a research report on Monday, August 14th.

Shares of Soligenix (NASDAQ SNGX) traded down 1.93% during mid-day trading on Tuesday, hitting $2.03. The stock had a trading volume of 75,416 shares. The stock has a 50 day moving average of $2.21 and a 200-day moving average of $2.37. The stock’s market capitalization is $11.62 million. Soligenix has a 52 week low of $1.90 and a 52 week high of $5.08.

Soligenix (NASDAQ:SNGX) last announced its earnings results on Friday, August 11th. The biopharmaceutical company reported ($0.41) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.09). The firm had revenue of $1.00 million for the quarter, compared to the consensus estimate of $1.43 million. Soligenix had a negative return on equity of 129.88% and a negative net margin of 86.15%. On average, equities research analysts predict that Soligenix will post ($1.48) earnings per share for the current year.

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Soligenix Company Profile

Soligenix, Inc is a late-stage biopharmaceutical company. The Company is focused on developing and commercializing products to treat rare diseases. The Company operates through two segments: BioTherapeutics and Vaccines/BioDefense. Its BioTherapeutics segment is developing a photodynamic therapy (SGX301) utilizing topical synthetic hypericin activated with safe visible light for the treatment of cutaneous T-cell lymphoma (CTCL), formulations of oral beclomethasone 17,21-dipropionate (BDP) for the prevention/treatment of gastrointestinal (GI) disorders characterized by severe inflammation, and its innate defense regulator (IDR) technology, dusquetide (SGX942) for the treatment of oral mucositis in head and neck cancer.

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