Unity Biotechnology (NASDAQ:UBX) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Unity Biotechnology (NASDAQ:UBX) from a hold rating to a buy rating in a research report sent to investors on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $5.25 price target on the stock.

According to Zacks, “UNITY Biotechnology Inc. develops therapeutics which prevents, halts and reverses various diseases. The company’s product portfolio includes UBX101, is designed to treat musculoskeletal disease with an initial focus on osteoarthritis. UNITY Biotechnology Inc. is based in California, United States. “

A number of other research analysts have also recently issued reports on the stock. Citigroup cut shares of Unity Biotechnology from a neutral rating to a sell rating and lifted their price objective for the company from $5.00 to $6.00 in a research note on Tuesday, February 16th. HC Wainwright started coverage on shares of Unity Biotechnology in a research note on Monday. They issued a buy rating and a $12.00 price objective on the stock. Finally, Mizuho lifted their price objective on shares of Unity Biotechnology from $4.00 to $5.00 and gave the company a neutral rating in a research note on Friday, March 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $5.89.

Shares of UBX opened at $4.70 on Thursday. Unity Biotechnology has a 12 month low of $2.72 and a 12 month high of $15.44. The stock’s 50 day simple moving average is $4.92. The company has a market capitalization of $257.82 million, a PE ratio of -3.01 and a beta of 0.23.

Unity Biotechnology (NASDAQ:UBX) last announced its earnings results on Wednesday, May 12th. The company reported ($0.29) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.38) by $0.09. Research analysts predict that Unity Biotechnology will post -1.44 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of UBX. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Unity Biotechnology during the fourth quarter worth $43,000. Fort Point Capital Partners LLC bought a new stake in shares of Unity Biotechnology during the fourth quarter worth $52,000. Engineers Gate Manager LP bought a new stake in shares of Unity Biotechnology during the fourth quarter worth $54,000. Principal Financial Group Inc. bought a new stake in shares of Unity Biotechnology during the fourth quarter worth $56,000. Finally, Wilbanks Smith & Thomas Asset Management LLC bought a new stake in shares of Unity Biotechnology during the first quarter worth $72,000. 37.01% of the stock is currently owned by hedge funds and other institutional investors.

About Unity Biotechnology

Unity Biotechnology, Inc, a biotechnology company, engages in the research and development of therapeutics to slow, halt, or reverse diseases of aging. The company's lead drug candidate include UBX1325, which is Phase I clinical trial for the treatment of age-related diseases of the eye, including age-related macular degeneration, diabetic macular edema, and diabetic retinopathy.

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