22nd Century Group (XXII) to Release Earnings on Thursday

22nd Century Group (NASDAQ:XXII – Get Rating) is set to post its quarterly earnings results before the market opens on Thursday, May 5th. Analysts expect 22nd Century Group to post earnings of ($0.06) per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

22nd Century Group (NASDAQ:XXII – Get Rating) last issued its earnings results on Tuesday, March 1st. The biotechnology company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). 22nd Century Group had a negative return on equity of 38.82% and a negative net margin of 105.37%. The company had revenue of $7.96 million during the quarter, compared to the consensus estimate of $8.81 million. During the same quarter in the prior year, the business earned ($0.05) EPS. On average, analysts expect 22nd Century Group to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

NASDAQ:XXII opened at $1.94 on Thursday. The stock has a market cap of $316.10 million, a PE ratio of -9.24 and a beta of 2.01. 22nd Century Group has a twelve month low of $1.86 and a twelve month high of $5.74. The firm has a 50-day simple moving average of $2.21.

A number of large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its position in shares of 22nd Century Group by 154.9% in the third quarter. Royal Bank of Canada now owns 27,593 shares of the biotechnology company’s stock worth $82,000 after buying an additional 16,768 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of 22nd Century Group by 531.6% in the third quarter. BNP Paribas Arbitrage SA now owns 33,533 shares of the biotechnology company’s stock worth $99,000 after buying an additional 28,224 shares in the last quarter. Citigroup Inc. raised its position in 22nd Century Group by 53.9% during the fourth quarter. Citigroup Inc. now owns 42,078 shares of the biotechnology company’s stock valued at $130,000 after purchasing an additional 14,741 shares during the period. Squarepoint Ops LLC purchased a new stake in 22nd Century Group during the fourth quarter valued at approximately $135,000. Finally, MetLife Investment Management LLC raised its holdings in shares of 22nd Century Group by 85.6% in the fourth quarter. MetLife Investment Management LLC now owns 58,188 shares of the biotechnology company’s stock worth $180,000 after buying an additional 26,832 shares during the period. 28.62% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have recently weighed in on XXII shares. Roth Capital started coverage on 22nd Century Group in a research report on Tuesday, March 8th. They issued a “buy” rating and a $6.00 price objective on the stock. Zacks Investment Research upgraded 22nd Century Group from a “hold” rating to a “buy” rating and set a $2.75 price target on the stock in a research report on Wednesday, March 30th. Finally, Dawson James lifted their price objective on 22nd Century Group from $7.00 to $8.50 and gave the company a “buy” rating in a research note on Thursday, January 6th.

22nd Century Group Company Profile (Get Rating)

22nd Century Group, Inc, an agricultural biotechnology company, focuses on tobacco harm reduction, reduced nicotine tobacco, and enhancing health and wellness through plant science for the life science and consumer products industries. It develops very low nicotine content tobacco and cigarette products under the VLN King and VLN Menthol King names; and SPECTRUM research cigarettes for use in independent clinical studies.

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