22nd Century Group’s (XXII) “Buy” Rating Reaffirmed at Chardan Capital

22nd Century Group (NYSEAMERICAN:XXII)‘s stock had its “buy” rating reissued by equities researchers at Chardan Capital in a research report issued on Friday. They currently have a $11.50 target price on the biotechnology company’s stock. Chardan Capital’s target price would indicate a potential upside of 200.26% from the company’s current price.

Separately, Zacks Investment Research upgraded 22nd Century Group from a “sell” rating to a “hold” rating and set a $3.00 price target for the company in a report on Wednesday, October 18th.

Shares of 22nd Century Group (NYSEAMERICAN XXII) traded down $0.06 during midday trading on Friday, hitting $3.83. The company had a trading volume of 3,217,319 shares, compared to its average volume of 6,025,919. 22nd Century Group has a 52-week low of $0.86 and a 52-week high of $4.44. The firm has a market capitalization of $499.20, a P/E ratio of -29.77 and a beta of 3.03.

22nd Century Group (NYSEAMERICAN:XXII) last released its earnings results on Thursday, November 9th. The biotechnology company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). 22nd Century Group had a negative net margin of 73.20% and a negative return on equity of 50.30%. The business had revenue of $4.53 million during the quarter, compared to analyst estimates of $5.09 million. During the same period last year, the business posted ($0.03) EPS. 22nd Century Group’s revenue was up 46.1% compared to the same quarter last year.

Several institutional investors and hedge funds have recently made changes to their positions in XXII. Steward Partners Investment Advisory LLC bought a new stake in shares of 22nd Century Group in the 3rd quarter valued at approximately $100,000. Wells Fargo & Company MN increased its holdings in shares of 22nd Century Group by 1,422.2% in the 3rd quarter. Wells Fargo & Company MN now owns 68,500 shares of the biotechnology company’s stock valued at $190,000 after acquiring an additional 64,000 shares during the last quarter. Bristol Advisors LLC bought a new stake in shares of 22nd Century Group in the 3rd quarter valued at approximately $201,000. Advisor Group Inc. increased its holdings in shares of 22nd Century Group by 49.3% in the 3rd quarter. Advisor Group Inc. now owns 73,775 shares of the biotechnology company’s stock valued at $204,000 after acquiring an additional 24,375 shares during the last quarter. Finally, Creative Planning increased its holdings in shares of 22nd Century Group by 38.7% in the 4th quarter. Creative Planning now owns 73,915 shares of the biotechnology company’s stock valued at $207,000 after acquiring an additional 20,628 shares during the last quarter.

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22nd Century Group Company Profile

22nd Century Group, Inc is a plant biotechnology company. The Company is focused on technology that allows increasing or decreasing the level of nicotine and other nicotinic alkaloids in tobacco plants, and levels of cannabinoids in cannabis plants through genetic engineering and plant breeding. It is engaged in various activities, including research and development of less harmful or modified risk tobacco products and tobacco plant varieties; development of X-22, a smoking cessation aid consisting of very low nicotine (VLN) cigarettes; manufacture, marketing and distribution of its RED SUN and MAGIC cigarettes; production of SPECTRUM research cigarettes for the National Institute on Drug Abuse (NIDA); contract manufacturing of third-party branded tobacco products, and research and development of plant varieties of hemp/cannabis, such as plants with low to no amounts of delta-9-tetrahydrocannabinol (THC), plants with high levels of cannabidiol (CBD), and other non-THC cannabinoids.

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