Chardan Capital Reiterates Their Buy Rating on 22nd Century (XXII)

By Jason Carr

In a report released yesterday, James McIlree from Chardan Capital reiterated a Buy rating on 22nd Century (XXIIResearch Report), with a price target of $11.50. The company’s shares opened today at $2.05.

McIlree commented:

“We believe it is most likely the NPRM on mandating a non-addictive level of nicotine in combustible cigarettes will wait for a new Commissioner.”

McIlree has an average return of 0.6% when recommending 22nd Century.

According to TipRanks.com, McIlree is ranked #4488 out of 5259 analysts.

Currently, the analyst consensus on 22nd Century is a Moderate Buy with an average price target of $11.50.

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Based on 22nd Century’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $8.92 million. In comparison, last year the company had a GAAP net loss of $3.74 million.

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22nd Century Group, Inc. is a plant biotechnology company, which engages in the development of technology that will allow to increase or decrease the level of nicotine and nicotinic alkaloids in tobacco plants and levels of cannabinoids in cannabis plants through genetic engineering and plant breeding.