22nd Century Group Inc (XXII)

[NYOptionsGuy]

Sites Confusing XXII Investors with Fake Price Target

Yesterday, Chardan's James McIlree reiterated a 'buy' rating on shares of 22nd Century Group, Inc. (NYSE:XXII) alongside a price target of $11.50 per share. While the term fake news is usually used by President Trump, it's the most fitting term to describe some of the XXII-related articles we've seen floating around today.

The report called 22nd Century Group "the solution to big tobacco's $30B problem." Chardan's "$11.50 price target is based on the company garnering royalty revenue for its technology on 10% of the US market share in the next five years." Risks to achieving the target price include "delays in the FDA process, ability to find partners for X-22, challenges in attracting contract manufacturing and selling product overseas and possibility of requiring additional capital."

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