NEXGEL (NASDAQ:NXGL) Price Target Lowered to $5.00 at Maxim Group

NEXGEL (NASDAQ:NXGLGet Rating) had its target price decreased by stock analysts at Maxim Group to $5.00 in a report released on Thursday, Stock Target Advisor reports. Maxim Group’s target price would indicate a potential upside of 244.83% from the company’s current price.

Shares of NASDAQ NXGL traded up $0.05 during midday trading on Thursday, reaching $1.45. 100 shares of the stock were exchanged, compared to its average volume of 261,846. NEXGEL has a 52-week low of $1.38 and a 52-week high of $4.66. The stock’s 50 day simple moving average is $1.72.

A hedge fund recently bought a new stake in NEXGEL stock. Altium Capital Management LP purchased a new position in shares of NEXGEL, Inc. (NASDAQ:NXGLGet Rating) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 28,570 shares of the company’s stock, valued at approximately $75,000. Altium Capital Management LP owned approximately 0.51% of NEXGEL at the end of the most recent reporting period. Hedge funds and other institutional investors own 1.99% of the company’s stock.

About NEXGEL (Get Rating)

NEXGEL, Inc manufactures high water content, electron beam cross-linked, and aqueous polymer hydrogels and gels. Its products are used for wound care, medical diagnostics, transdermal drug delivery, and cosmetics. The company was formerly known as AquaMed Technologies, Inc and changed its name to NEXGEL, Inc in November 2019.

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