HC Wainwright Downgrades Soligenix (SNGX) to Neutral

Soligenix (NASDAQ:SNGX) was downgraded by equities researchers at HC Wainwright from a “buy” rating to a “neutral” rating in a research note issued on Wednesday. They presently have a $2.70 price target on the biopharmaceutical company’s stock, down from their prior price target of $5.50. HC Wainwright’s target price would indicate a potential upside of 25.00% from the company’s previous close.

Separately, Maxim Group set a $5.00 price objective on Soligenix and gave the stock a “buy” rating in a report on Tuesday, October 31st.

Soligenix (SNGX) opened at $2.16 on Wednesday. The company has a market capitalization of $19.21 and a PE ratio of -2.08. Soligenix has a twelve month low of $1.74 and a twelve month high of $5.08.

Soligenix (NASDAQ:SNGX) last released its quarterly earnings data on Monday, November 6th. The biopharmaceutical company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.15. The company had revenue of $1.82 million for the quarter, compared to the consensus estimate of $1.36 million. Soligenix had a negative return on equity of 112.81% and a negative net margin of 90.93%. analysts forecast that Soligenix will post -1.2 EPS for the current year.

In other news, insider Spa Essetifin acquired 293,510 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were bought at an average cost of $2.12 per share, for a total transaction of $622,241.20. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 5.03% of the company’s stock.

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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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