Soligenix (SNGX) Given a $4.00 Price Target at Maxim Group

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Soligenix (NASDAQ:SNGX) received a $4.00 price target from equities researchers at Maxim Group in a research note issued on Thursday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Maxim Group’s target price points to a potential upside of 312.37% from the company’s previous close.

Separately, ValuEngine upgraded Soligenix from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st.

Soligenix stock opened at $0.97 on Thursday. Soligenix has a 52 week low of $0.91 and a 52 week high of $3.70.

Soligenix (NASDAQ:SNGX) last released its earnings results on Friday, November 9th. The biopharmaceutical company reported ($0.11) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.11). The company had revenue of $1.40 million during the quarter, compared to analysts’ expectations of $1.40 million. Soligenix had a negative return on equity of 144.47% and a negative net margin of 146.45%. On average, equities research analysts predict that Soligenix will post -0.62 earnings per share for the current fiscal year.

In other Soligenix news, Director Mark E. Pearson bought 170,000 shares of Soligenix stock in a transaction dated Wednesday, October 17th. The stock was bought at an average cost of $1.16 per share, for a total transaction of $197,200.00. Following the purchase, the director now owns 2,500,000 shares in the company, valued at approximately $2,900,000. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 5.03% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in SNGX. Virtu Financial LLC purchased a new position in shares of Soligenix during the 3rd quarter valued at approximately $116,000. Renaissance Technologies LLC purchased a new position in shares of Soligenix during the 3rd quarter valued at approximately $188,000. Finally, Vanguard Group Inc. boosted its stake in shares of Soligenix by 46.5% during the 3rd quarter. Vanguard Group Inc. now owns 339,732 shares of the biopharmaceutical company’s stock valued at $639,000 after buying an additional 107,875 shares during the last quarter. Institutional investors own 9.13% 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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