22nd Century Group Inc (NYSE:XXII) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday. The brokerage presently has a $1.25 target price on the biotechnology company’s stock. Zacks Investment Research’s price target indicates 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 reiterated a “buy” rating and issued 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, reaching $1.39. 1,580,609 shares of the company were exchanged. The firm’s 50-day moving average is $1.12 and its 200-day moving average is $1.09. The firm’s market cap is $126.07 million. 22nd Century Group has a one year low of $0.73 and a one year high of $1.71.
A hedge fund recently raised its stake in 22nd Century Group stock. National Asset Management Inc. boosted its stake in shares of 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 about 0.16% of 22nd Century Group worth $197,000 as of its most recent filing with the SEC.
About 22nd Century Group
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