22nd Century Group Inc (NYSE:XXII) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday. The brokerage currently has a $1.25 price target on the biotechnology company’s stock. Zacks Investment Research’s price target would suggest a potential downside of 10.07% from the company’s previous close.
According to Zacks, “22nd Century Group, Inc. is a plant biotechnology company focused on decreasing/increasing the level of nicotine in the tobacco plant through genetic engineering and breeding. The Company is focused on development of smoking cessation aid and owns and controls several patents. The company’s products include X-22, a prescription smoking cessation aid, which is a tobacco-based botanical medical product for use as a smoking cessation therapy. 22nd Century Group, Inc. is based in Williamsville, New York. “
Separately, Chardan Capital reiterated a “buy” rating and set a $3.50 price target on shares of 22nd Century Group in a report on Tuesday, March 7th.
22nd Century Group (NYSE:XXII) traded up 3.73% during trading on Friday, reaching $1.39. 1,588,089 shares of the company’s stock traded hands. The firm has a 50 day moving average of $1.12 and a 200 day moving average of $1.09. 22nd Century Group has a 1-year low of $0.73 and a 1-year high of $1.71. The firm’s market capitalization is $126.07 million.
A hedge fund recently raised its stake in 22nd Century Group stock. National Asset Management Inc. raised its stake in shares of 22nd Century Group Inc (NYSE:XXII) by 82.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 145,700 shares of the biotechnology company’s stock after buying an additional 66,000 shares during the period. National Asset Management Inc. owned approximately 0.16% of 22nd Century Group worth $197,000 as of its most recent SEC filing.
About 22nd Century Group
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