22nd Century Group Inc (NYSE:XXII) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday. The brokerage currently has a $1.25 price target on the biotechnology company’s stock. Zacks Investment Research’s price target points to a potential downside of 10.07% from the stock’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 restated a “buy” rating and set a $3.50 target price on shares of 22nd Century Group in a research report on Sunday, January 8th.
22nd Century Group (NYSE:XXII) traded up 3.73% during midday trading on Friday, hitting $1.39. 1,588,089 shares of the stock traded hands. The company’s 50-day moving average is $1.12 and its 200 day moving average is $1.09. 22nd Century Group has a 12-month low of $0.73 and a 12-month high of $1.71. The firm’s market cap is $126.07 million.
An institutional investor recently raised its position in 22nd Century Group stock. National Asset Management Inc. raised its position in 22nd Century Group Inc (NYSE:XXII) by 82.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 0.16% of 22nd Century Group worth $197,000 at the end of the most recent reporting period.
22nd Century Group Company Profile
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