Soligenix (NASDAQ:SNGX) Lowered to “Strong Sell” Rating by Wall Street Zen

Soligenix (NASDAQ:SNGX) was downgraded by equities research analysts at Wall Street Zen to a “strong sell” rating in a report issued on Saturday.

Separately, Alliance Global Partners dropped their target price on Soligenix from $10.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th.

Soligenix Stock Down 5.4%

NASDAQ SNGX opened at $2.78 on Friday. Soligenix has a fifty-two week low of $1.09 and a fifty-two week high of $5.40. The stock has a market cap of $9.06 million, a price-to-earnings ratio of -0.73 and a beta of 1.95. The business has a fifty day moving average of $1.79 and a 200-day moving average of $2.01.

Soligenix (NASDAQ:SNGX) last released its quarterly earnings results on Thursday, August 14th. The biopharmaceutical company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.03). As a group, analysts anticipate that Soligenix will post -4.65 EPS for the current year.

Hedge Funds Weigh In On Soligenix

A hedge fund recently raised its stake in Soligenix stock. Geode Capital Management LLC boosted its holdings in Soligenix Inc. (NASDAQ:SNGX) by 42.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,094 shares of the biopharmaceutical company’s stock after purchasing an additional 7,729 shares during the quarter. Geode Capital Management LLC owned approximately 1.04% of Soligenix worth $71,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 3.60% 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. The company operates through two segments, Specialized BioTherapeutics and Public Health Solutions. The Specialized BioTherapeutics segment develops SGX301 (HyBryte), a novel photodynamic therapy, which has completed Phase III clinical trial for the treatment of cutaneous T-cell lymphoma; SGX942, an innate defense regulator technology that is in Phase III clinical trial for the treatment of inflammatory diseases, including oral mucositis in head and neck cancer; SGX302, an IDR technology which is in Phase IIa study to treat mil-to-moderate Psoriasis; and SGX945 and IDR technology that is in Phase IIa protocol for the treatment of Aphthous Ulcers in Behçet's Disease.