22nd Century Group Inc (NYSE:XXII) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday. The firm presently has a $1.25 target price on the biotechnology company’s stock. Zacks Investment Research’s price target points to a potential downside of 6.72% from the company’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 reaffirmed a “buy” rating and set a $3.50 price target on shares of 22nd Century Group in a research note on Sunday, January 8th.

Shares of 22nd Century Group (NYSE:XXII) traded up 1.866% on Friday, reaching $1.365. 1,340,338 shares of the company traded hands. 22nd Century Group has a 1-year low of $0.73 and a 1-year high of $1.71. The stock’s market capitalization is $123.80 million. The company has a 50-day moving average of $1.12 and a 200-day moving average of $1.09.

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A hedge fund recently raised its stake in 22nd Century Group stock. National Asset Management Inc. increased its position in shares of 22nd Century Group Inc (NYSE:XXII) by 82.8% during the third quarter, according to its most recent filing with the SEC. The institutional investor 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.

About 22nd Century Group

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