Xenetic Biosciences, Inc. (NASDAQ:XBIO) 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 $3.00 target price on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 18.58% from the company’s current price.

According to Zacks, “Xenetic Biosciences Inc. is a biopharmaceutical company. It develops biologic drugs, oncology therapeutics and vaccinations. The Company’s proprietary drug technology platforms include PolyXen (R) for the development of next generation biologic drugs and OncoHist (R) for the development of oncology drugs focused on orphan indications. Xenetic Biosciences Inc. based in United States. “

Shares of Xenetic Biosciences (NASDAQ XBIO) traded down 2.69% during mid-day trading on Friday, reaching $2.53. 9,061 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $2.76 and a 200-day moving average price of $3.40. Xenetic Biosciences has a 12 month low of $2.21 and a 12 month high of $5.90. The stock’s market cap is $22.05 million.

Xenetic Biosciences (NASDAQ:XBIO) last released its earnings results on Monday, August 14th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.21) by $0.13. On average, analysts predict that Xenetic Biosciences will post ($0.89) earnings per share for the current fiscal year.

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Xenetic Biosciences Company Profile

Xenetic Biosciences, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the research and development of certain pharmaceutical products for use in humans that includes the use of the Company’s platform technologies that enables the creation of drug therapies primarily for orphan indications.

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