H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Sol-Gel Technologies today and set a price target of $50.00.
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Ram Selvaraju has given his Buy rating due to a combination of factors including the promising potential of Sol-Gel Technologies’ main product, SGT-610. This drug, which is designed to treat Gorlin syndrome, represents a significant opportunity for the company as it could become the first approved treatment for preventing new basal cell carcinoma lesions in these patients. With the pivotal Phase 3 trial for SGT-610 having completed enrollment and top-line data expected in late 2026, the drug is anticipated to generate substantial revenue, potentially exceeding $300 million annually.
Additionally, the company’s strategic financial maneuvers, such as the reverse stock split and the sale of U.S. rights to its products Epsolay and Twyneo, have strengthened its financial position. These actions, along with the recent approval of Epsolay in Canada, enhance Sol-Gel’s prospects. Furthermore, the ongoing development of SGT-210 for Darier disease adds another layer of potential growth, making Sol-Gel an attractive investment opportunity according to Selvaraju.
Selvaraju covers the Healthcare sector, focusing on stocks such as Bioxcel Therapeutics, Emergent Biosolutions, and Vanda. According to TipRanks, Selvaraju has an average return of 24.3% and a 55.73% success rate on recommended stocks.