Zacks: Analysts Set $28.50 Target Price for Unity Biotechnology Inc (UBX)

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Shares of Unity Biotechnology Inc (NASDAQ:UBX) have been given a consensus broker rating score of 1.25 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a buy rating and one has given a strong buy rating to the company.

Brokerages have set a 1-year consensus target price of $28.50 for the company and are expecting that the company will post ($0.30) earnings per share for the current quarter, according to Zacks. Zacks has also given Unity Biotechnology an industry rank of 102 out of 255 based on the ratings given to its competitors.

A number of brokerages have recently issued reports on UBX. Morgan Stanley began coverage on Unity Biotechnology in a research report on Tuesday, May 29th. They set an “overweight” rating and a $25.00 price target for the company. Zacks Investment Research upgraded Unity Biotechnology from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Wednesday. Goldman Sachs Group began coverage on Unity Biotechnology in a research report on Tuesday, May 29th. They set a “neutral” rating and a $17.00 price target for the company. Finally, Citigroup began coverage on Unity Biotechnology in a research report on Tuesday, May 29th. They set a “buy” rating and a $32.00 price target for the company.

Shares of NASDAQ UBX opened at $15.84 on Thursday. Unity Biotechnology has a 52 week low of $12.75 and a 52 week high of $20.48.

Unity Biotechnology (NASDAQ:UBX) last issued its earnings results on Thursday, June 7th. The company reported ($4.69) EPS for the quarter, missing the consensus estimate of ($0.33) by ($4.36). equities research analysts anticipate that Unity Biotechnology will post -1.22 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of UBX. Baillie Gifford & Co. bought a new stake in shares of Unity Biotechnology during the 2nd quarter valued at about $57,274,000. FMR LLC purchased a new position in shares of Unity Biotechnology during the 2nd quarter valued at about $49,015,000. Partner Fund Management L.P. purchased a new position in shares of Unity Biotechnology during the 2nd quarter valued at about $11,458,000. NF Trinity Capital Hong Kong Ltd purchased a new position in shares of Unity Biotechnology during the 2nd quarter valued at about $9,157,000. Finally, Partner Investment Management L.P. purchased a new position in shares of Unity Biotechnology during the 2nd quarter valued at about $4,079,000. Hedge funds and other institutional investors own 9.15% of the company’s stock.

Unity Biotechnology Company Profile

Unity Biotechnology, Inc, a preclinical biotechnology company, engages in the research and development of therapeutics to extend human health span. The company's lead drug candidates include UBX0101 for musculoskeletal disease with an initial focus on osteoarthritis; and UBX1967 for ophthalmologic diseases.

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