Maxim Group Analysts Give Soligenix Inc. (SNGX) a $4.00 Price Target

Soligenix Inc. (NASDAQ:SNGX) received a $4.00 target price from Maxim Group in a note issued to investors on Thursday, May 11th. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Maxim Group’s price target suggests a potential upside of 98.02% from the company’s current price.

Soligenix (NASDAQ SNGX) opened at 2.02 on Thursday. The stock has a 50 day moving average price of $2.49 and a 200 day moving average price of $2.60. The stock’s market cap is $11.46 million. Soligenix has a 52 week low of $2.02 and a 52 week high of $14.40.

Soligenix (NASDAQ:SNGX) last posted its earnings results on Thursday, May 11th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by $0.02. Soligenix had a negative net margin of 41.74% and a negative return on equity of 102.83%. The company had revenue of $1.30 million during the quarter. On average, equities analysts predict that Soligenix will post ($0.63) earnings per share for the current year.

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In other news, major shareholder Randal J. Kirk sold 160,968 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $3.12, for a total value of $502,220.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.09% of the stock is currently owned by company insiders.

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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