Maxim Group Reiterates “$5.00” Price Target for Soligenix (SNGX)

Maxim Group set a $5.00 price objective on Soligenix (NASDAQ:SNGX) in a report released on Wednesday. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright reaffirmed a buy rating and issued a $11.00 price objective on shares of Soligenix in a research report on Thursday, September 21st.

Soligenix (NASDAQ SNGX) opened at $2.27 on Wednesday. Soligenix has a 12-month low of $1.74 and a 12-month high of $5.08.

Soligenix (NASDAQ:SNGX) last released its quarterly earnings data on Monday, November 6th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.15. The business had revenue of $1.82 million for the quarter, compared to analysts’ expectations of $1.36 million. Soligenix had a negative return on equity of 112.81% and a negative net margin of 90.93%. analysts expect that Soligenix will post -1.28 EPS for the current fiscal year.

In other Soligenix news, insider Spa Essetifin acquired 293,510 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were acquired at an average cost of $2.12 per share, with a total value of $622,241.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 5.03% of the company’s stock.

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About Soligenix

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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