22nd Century Group Inc (XXII) Upgraded at Zacks Investment Research

22nd Century Group Inc (NYSE:XXII) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday. The firm currently has a $1.25 target price on the biotechnology company’s stock. Zacks Investment Research’s target price points to a potential downside of 10.07% from the stock’s current price.

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 issued a $3.50 target price on shares of 22nd Century Group in a research note on Tuesday, March 7th.

22nd Century Group (NYSE:XXII) traded up 3.73% during mid-day trading on Friday, reaching $1.39. The company had a trading volume of 1,588,089 shares. The firm’s market capitalization is $126.07 million. 22nd Century Group has a 12-month low of $0.73 and a 12-month high of $1.71. The firm has a 50-day moving average price of $1.12 and a 200 day moving average price of $1.09.

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An institutional investor recently raised its position 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 disclosure 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 about 0.16% of 22nd Century Group worth $197,000 as of its most recent filing with the SEC.

22nd Century Group Company Profile

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