Maxim Group analyst Jason McCarthy maintained a Hold rating on Sonoma Pharmaceuticals Inc (NASDAQ: SNOA) today. The company’s shares opened today at $3.35, close to its 52-week low of $3.05.
McCarthy said:
“Sonoma reported the March quarter (F4Q) with $3.7M in net revenues, a q/q decline of 25%, and missing street expectations of $4.4M. Sonoma reported $10M in cash on the balance sheet which we estimate is runway until the end of calendar year 2018 given the current operating expenses of ~$8M per quarter. If revenue returns to the $4M-$5M range, the runway may be extended further. Given the decline in revenue this quarter, we maintain our Hold rating.”
According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 10.1% and a 45.6% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.
Sonoma Pharmaceuticals Inc has an analyst consensus of Hold.
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The company has a one-year high of $7.20 and a one-year low of $3.05. Currently, Sonoma Pharmaceuticals Inc has an average volume of 132.7K.
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Sonoma Pharmaceuticals, Inc. is a global healthcare company that designs, manufactures and markets prescription and non-prescription products. It offers wound management, nursing home and healthcare, dermatology, wound and skin care for consumers, animal healthcare and natural healthcare products.
