Soligenix (NASDAQ:SNGX) Earns Buy Rating from Analysts at Maxim Group

Maxim Group started coverage on shares of Soligenix (NASDAQ:SNGX) in a report published on Thursday morning, TipRanks reports. The brokerage issued a buy rating and a $4.00 price objective on the biopharmaceutical company’s stock.

Separately, ValuEngine upgraded shares of Soligenix from a sell rating to a hold rating in a research note on Thursday, April 2nd.

Soligenix has a 1 year low of $0.70 and a 1 year high of $3.54. The stock’s 50-day simple moving average is $1.86 and its 200-day simple moving average is $1.95.

Soligenix (NASDAQ:SNGX) last issued its quarterly earnings results on Friday, May 15th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.21). The business had revenue of $0.90 million for the quarter. Soligenix had a negative return on equity of 542.83% and a negative net margin of 351.69%. Research analysts expect that Soligenix will post -0.49 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in SNGX. FNY Investment Advisers LLC purchased a new stake in shares of Soligenix during the first quarter worth approximately $184,000. First Wilshire Securities Management Inc. purchased a new stake in shares of Soligenix during the first quarter worth approximately $168,000. Renaissance Technologies LLC increased its stake in shares of Soligenix by 15.4% during the fourth quarter. Renaissance Technologies LLC now owns 311,191 shares of the biopharmaceutical company’s stock worth $451,000 after buying an additional 41,500 shares during the period. S&T Bank PA purchased a new stake in shares of Soligenix during the first quarter worth approximately $64,000. Finally, WMS Partners LLC purchased a new stake in shares of Soligenix during the first quarter worth approximately $42,000. Hedge funds and other institutional investors own 10.51% of the company’s stock.

About Soligenix

Soligenix, Inc, a late-stage biopharmaceutical company, focuses on developing and commercializing products to treat rare diseases in the United States. It operates in 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 SGX942, an innate defense regulator technology that has completed Phase II clinical trial to treat oral mucositis in head and neck cancer.

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