Soligenix (NASDAQ:SNGX) has been given a $5.00 price objective by equities research analysts at Maxim Group in a research note issued on Wednesday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Maxim Group’s price target points to a potential upside of 111.86% from the company’s previous close.
Separately, HC Wainwright restated a “buy” rating and issued a $5.50 price objective (down previously from $11.00) on shares of Soligenix in a research note on Monday, November 6th.
Shares of Soligenix (SNGX) traded down $0.04 during trading on Wednesday, hitting $2.36. 65,900 shares of the stock traded hands, compared to its average volume of 243,600. The firm has a market capitalization of $20.95, a P/E ratio of -2.27 and a beta of 2.17. Soligenix has a twelve month low of $1.74 and a twelve month high of $5.08.
In related news, insider Spa Essetifin acquired 293,510 shares of the stock in a transaction dated Wednesday, November 29th. The shares were acquired at an average price of $2.12 per share, for a total transaction of $622,241.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.03% of the company’s stock.
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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