In a recently released analyst research report, Chardan Capital Markets Senior Research Analyst, James McIlree, CFA, reiterated his buy rating on shares of plant biotechnology innovator 22nd Century Group Inc. (NYSE:XXII) with a price target that suggests some huge upside to come.
James McIlree’s XXII stock price target of $11.50 USD per share implies a potential upside of approximately 704.20% based on the last traded price of $1.43 USD per share on the NYSE.
Just the other day, 22nd Century Group appointed Clifford B. Fleet to serve as the company’s President and CEO, effective August 3, 2019. Mr. Fleet has also been elected to serve as a member of the 22nd Century Group Board of Directors, and was previously the President and Chief Executive Officer of Philip Morris USA from 2013 to 2017.
Not only does 22nd Century Group have huge growth prospects within its tobacco and nicotine division, but the company has also been quietly bolstering its positioning in specialized cannabis and hemp genetics.
According to McIlree’s research report, “22nd Century entered into a worldwide R&D agreement with KeyGene, that will focus on developing hemp and cannabis plants with specific medical and therapeutic profiles.”
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