Maxim Group Sticks to Their Hold Rating for Sonoma Pharmaceuticals Inc (SNOA)


In a report released today, Jason McCarthy from Maxim Group maintained a Hold rating on Sonoma Pharmaceuticals Inc (NASDAQ: SNOA). The company’s shares closed yesterday at $1.92, close to its 52-week low of $1.84.

McCarthy noted:

“Sonoma reported the June quarter (F1Q) with $4.4M in net revenues, marking, in our view, a recovery from what management described on the conference call as a “hiccup” in the March quarter. While this is a positive, the company still reported a net loss of $3.5M and only $7.7M in cash on the balance sheet. Sonoma is likely going to need to raise capital again and as such, we remain Hold-rated.”

According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 12.2% and a 44.2% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Actinium Pharmaceuticals.

Currently, the analyst consensus on Sonoma Pharmaceuticals Inc is a Moderate Buy with an average price target of $3.

See today’s analyst top recommended stocks >>

The company has a one-year high of $5.93 and a one-year low of $1.84. Currently, Sonoma Pharmaceuticals Inc has an average volume of 70.34K.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts