Soligenix (SNGX) Rating Reiterated by Maxim Group
Maxim Group reaffirmed their buy rating on shares of Soligenix (NASDAQ:SNGX) in a research report report published on Thursday, AnalystRatings.com reports. Maxim Group currently has a $4.00 target price on the biopharmaceutical company’s stock.
“Soligenix reported 1Q19 with a net loss of ($1.6M). The company received $1.1M in non-dilutive funding (grants and RiVax contracts) supporting pipeline programs. Soligenix ended the period with $7.2M in cash, although we anticipate the company should continue to receive non-dilutive funding that will extend the runway.”,” the firm’s analyst wrote.
NASDAQ SNGX traded down $0.04 during trading hours on Thursday, reaching $0.72. The company’s stock had a trading volume of 5,021 shares, compared to its average volume of 211,380. The company has a quick ratio of 2.46, a current ratio of 2.20 and a debt-to-equity ratio of 0.02. Soligenix has a 52 week low of $0.65 and a 52 week high of $2.20. The stock has a market capitalization of $12.56 million, a P/E ratio of -1.07 and a beta of 1.22.
Several institutional investors and hedge funds have recently added to or reduced their stakes in SNGX. Renaissance Technologies LLC bought a new stake in shares of Soligenix during the third quarter valued at approximately $188,000. Vanguard Group Inc raised its holdings in shares of Soligenix by 46.5% during the third 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. Finally, Vanguard Group Inc. raised its holdings in shares of Soligenix by 46.5% during the third 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. 9.88% of the stock is currently owned by institutional investors.
Soligenix Company Profile
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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