Soligenix (SNGX) Given a $5.00 Price Target at Maxim Group

Maxim Group set a $5.00 price target on Soligenix (NASDAQ:SNGX) in a research note issued to investors on Thursday. The firm currently has a buy rating on the biopharmaceutical company’s stock.

“Summary The markers for the Ricin Toxin Vaccine will help facilitate a potential approval under the FDA “Animal Rule”. As a reminder, RiVax is a ricin toxin vaccine under development by Soligenix, and originally invented at the University of Texas Southwestern. Soligenix believes they have enhanced the vaccine (thermostability) using the company’s ThermoVax platform. The RiVax vaccine has demonstrated up to 100% protection in mice and NHPs (non-human primates) subsequently exposed to lethal doses of ricin toxin, either systemically or by aerosol.”,” Maxim Group’s analyst commented.

Separately, HC Wainwright restated a buy rating and set a $11.00 price objective on shares of Soligenix in a research report on Thursday, September 21st.

Soligenix (SNGX) traded up $0.15 during trading hours on Thursday, reaching $2.03. 57,300 shares of the company’s stock traded hands, compared to its average volume of 247,502. Soligenix has a 52-week low of $1.74 and a 52-week high of $5.08.

Soligenix (NASDAQ:SNGX) last posted its quarterly earnings data on Monday, November 6th. The biopharmaceutical company reported ($0.17) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.32) by $0.15. The firm had revenue of $1.82 million during the quarter, compared to analyst estimates of $1.36 million. Soligenix had a negative net margin of 90.93% and a negative return on equity of 112.81%. equities research analysts forecast that Soligenix will post -1.28 earnings per share for the current year.

In related news, insider Spa Essetifin acquired 293,510 shares of the stock in a transaction dated Wednesday, November 29th. The shares were purchased at an average price of $2.12 per share, for a total transaction of $622,241.20. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 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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