Roth Capital Initiates Coverage on Unity Biotechnology (NASDAQ:UBX)

Analysts at Roth Capital started coverage on shares of Unity Biotechnology (NASDAQ:UBX) in a research note issued on Monday, Marketbeat reports. The firm set a “buy” rating and a $35.00 price target on the stock. Roth Capital’s price objective would indicate a potential upside of 279.20% from the stock’s current price.

A number of other analysts have also recently weighed in on the company. Morgan Stanley cut their price target on Unity Biotechnology from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 15th. BidaskClub cut Unity Biotechnology from a “buy” rating to a “hold” rating in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $21.50.

Shares of NASDAQ UBX opened at $9.23 on Monday. The stock has a market cap of $446.19 million, a P/E ratio of -4.50 and a beta of 0.37. Unity Biotechnology has a 12-month low of $4.62 and a 12-month high of $10.38. The business’s fifty day simple moving average is $8.56 and its 200-day simple moving average is $7.05.

Unity Biotechnology (NASDAQ:UBX) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.03). As a group, sell-side analysts expect that Unity Biotechnology will post -1.92 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the business. FMR LLC grew its holdings in shares of Unity Biotechnology by 18.2% during the first quarter. FMR LLC now owns 4,551,523 shares of the company’s stock worth $36,913,000 after purchasing an additional 700,500 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Unity Biotechnology by 12.7% during the first quarter. Geode Capital Management LLC now owns 401,672 shares of the company’s stock worth $2,329,000 after purchasing an additional 45,323 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Unity Biotechnology by 200.1% during the first quarter. Russell Investments Group Ltd. now owns 222,585 shares of the company’s stock worth $1,292,000 after purchasing an additional 148,424 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Unity Biotechnology by 11.6% during the first quarter. Nuveen Asset Management LLC now owns 108,950 shares of the company’s stock worth $632,000 after purchasing an additional 11,362 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Unity Biotechnology by 20.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 91,373 shares of the company’s stock worth $659,000 after purchasing an additional 15,539 shares during the last quarter. 44.56% of the stock is currently owned by institutional investors.

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.

Further Reading: What does the Producer Price Index (PPI) tell investors?

Receive News & Ratings for Unity Biotechnology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Unity Biotechnology and related companies with MarketBeat.com's FREE daily email newsletter.