Brokerages Set Unity Biotechnology Inc (NASDAQ:UBX) PT at $7.60

Shares of Unity Biotechnology Inc (NASDAQ:UBX) have been assigned an average recommendation of “Hold” from the nine analysts that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $7.60.

A number of brokerages have issued reports on UBX. Goldman Sachs Group decreased their price target on Unity Biotechnology from $8.00 to $4.00 and set a “neutral” rating for the company in a research note on Tuesday, August 18th. Mizuho reissued a “buy” rating on shares of Unity Biotechnology in a research note on Monday, August 24th. Citigroup lowered Unity Biotechnology from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $31.00 to $5.00 in a research note on Tuesday, August 18th. Zacks Investment Research lowered Unity Biotechnology from a “buy” rating to a “hold” rating in a research note on Wednesday, September 9th. Finally, BidaskClub raised Unity Biotechnology from a “hold” rating to a “buy” rating in a research note on Tuesday, August 4th.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Saturna Capital CORP lifted its holdings in shares of Unity Biotechnology by 9.5% in the first quarter. Saturna Capital CORP now owns 23,000 shares of the company’s stock valued at $133,000 after purchasing an additional 2,000 shares in the last quarter. American International Group Inc. raised its holdings in shares of Unity Biotechnology by 19.0% during the second quarter. American International Group Inc. now owns 20,125 shares of the company’s stock worth $175,000 after acquiring an additional 3,209 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Unity Biotechnology by 4.5% during the first quarter. Bank of New York Mellon Corp now owns 80,212 shares of the company’s stock worth $465,000 after acquiring an additional 3,450 shares in the last quarter. Advisor Group Holdings Inc. raised its holdings in shares of Unity Biotechnology by 4,646.0% during the second quarter. Advisor Group Holdings Inc. now owns 4,746 shares of the company’s stock worth $41,000 after acquiring an additional 4,646 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Unity Biotechnology by 28.9% during the first quarter. Wells Fargo & Company MN now owns 21,352 shares of the company’s stock worth $124,000 after acquiring an additional 4,781 shares in the last quarter. Institutional investors own 47.89% of the company’s stock.

NASDAQ UBX traded down $0.10 on Wednesday, reaching $3.47. 643,693 shares of the stock traded hands, compared to its average volume of 720,386. The firm’s fifty day simple moving average is $5.33 and its 200 day simple moving average is $6.83. The company has a market cap of $180.58 million, a price-to-earnings ratio of -1.86 and a beta of -0.08. Unity Biotechnology has a 12 month low of $2.72 and a 12 month high of $15.44.

Unity Biotechnology (NASDAQ:UBX) last issued its quarterly earnings results on Friday, July 31st. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.13. Research analysts predict that Unity Biotechnology will post -1.9 earnings per share for the current fiscal year.

Unity Biotechnology Company Profile

Unity Biotechnology, Inc, a biotechnology company, engages in the research and development of therapeutics to extend human health span. The company's lead drug candidates include UBX0101 that is in Phase 1 clinical study for musculoskeletal disease; and UBX1967 for ophthalmologic diseases. It is also developing programs in pulmonary disorders.

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Analyst Recommendations for Unity Biotechnology (NASDAQ:UBX)

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