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Maxim Group Reaffirms Their Hold Rating on Sonoma Pharmaceuticals Inc (SNOA)


In a report released today, Jason McCarthy from Maxim Group maintained a Hold rating on Sonoma Pharmaceuticals Inc (SNOA). The company’s shares closed yesterday at $1.31, close to its 52-week low of $1.05.

McCarthy commented:

“Sonoma reported F2Q19 (March in total revenues up 13% sequentially, and a net loss of ($2.8M). US product revenues were $2.4M, an increase of 23% from F1Q19. Ex-US revenues also increased to $2.2M, from $2.1M (4% sequential growth) in F1Q19. The company ended the period with $4M in cash, or just over a quarter of operating capital. Conclusion: Sonoma reported modest growth in the quarter and we note that product sales are at record levels, a positive for the company. We are watching for the launch of products in Brazil through partner U.SK (Private), and uptake in the mail order program. Our concern has been the capital needs of the company which Sonoma is currently working to address. We remain Hold rated.”

According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 5.3% and a 40.9% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Aridis Pharmaceuticals Inc.

The the analyst consensus on Sonoma Pharmaceuticals Inc is currently a Hold rating.

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Based on Sonoma Pharmaceuticals Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $3.46 million. In comparison, last year the company had a GAAP net loss of $2.87 million.

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Sonoma Pharmaceuticals, Inc. engages in identifying, developing, and commercializing therapies for chronic skin conditions. It offers solutions in dermatology, animal healthcare, and advanced tissue care product areas. Its products target skin diseases including acne, atopic dermatitis, scarring, infections, itch, pain, and harmful inflammatory responses.