Maxim Group set a $5.00 target price on Soligenix (NASDAQ:SNGX) in a research note issued to investors on Thursday, March 15th. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
Separately, HC Wainwright downgraded Soligenix from a buy rating to a neutral rating and lowered their price target for the stock from $5.50 to $2.70 in a research report on Wednesday, January 31st.
Soligenix stock traded down $0.07 during midday trading on Thursday, hitting $1.84. 42,920 shares of the company were exchanged, compared to its average volume of 424,253. The firm has a market cap of $16.08, a price-to-earnings ratio of -1.33 and a beta of 0.54. Soligenix has a fifty-two week low of $1.74 and a fifty-two week high of $5.08.
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Soligenix, Inc, a late-stage biopharmaceutical company, focuses on developing and commercializing products to treat rare diseases in the United States. It operates through two segments, BioTherapeutics and Vaccines/BioDefense. The BioTherapeutics segment develops SGX301, a photodynamic therapy, which is in Phase III clinical trial to treat cutaneous T-cell lymphoma; and proprietary formulations of oral beclomethasone 17,21-dipropionate for the prevention/treatment of gastrointestinal (GI) disorders characterized by severe inflammation, including pediatric Crohn's disease and acute radiation enteritis.
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