Soligenix Inc. (SNGX) Receives “Buy” Rating from Maxim Group

Soligenix Inc. (NASDAQ:SNGX)‘s stock had its “buy” rating restated by equities research analysts at Maxim Group in a research report issued on Wednesday. They currently have a $5.00 price target on the biopharmaceutical company’s stock. Maxim Group’s price target suggests a potential upside of 122.22% from the company’s current price.

The analysts wrote, “Soligenix just announced yet another grant, this time $1.5M from the National Institute of Dental and Craniofacial Research (NIDCR), part of the National Institute of Health (NIH) Small Business Innovation Research (SBIR) grant.””

Separately, HC Wainwright set a $11.00 price objective on Soligenix and gave the company a “buy” rating in a research report on Monday, August 14th.

Shares of Soligenix (SNGX) opened at 2.25 on Wednesday. Soligenix has a 12 month low of $1.90 and a 12 month high of $8.50. The stock’s market capitalization is $12.88 million. The company’s 50 day moving average price is $2.18 and its 200-day moving average price is $2.43.

Soligenix (NASDAQ:SNGX) last released its quarterly earnings data on Friday, August 11th. The biopharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.09). The business had revenue of $1.00 million during the quarter, compared to the consensus estimate of $1.43 million. Soligenix had a negative net margin of 86.15% and a negative return on equity of 129.88%. Equities analysts predict that Soligenix will post ($1.48) earnings per share for the current year.

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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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