Zacks: Unity Biotechnology Inc (UBX) Given Consensus Rating of “Strong Buy” by Analysts

Unity Biotechnology Inc (NASDAQ:UBX) has been given an average broker rating score of 1.17 (Strong Buy) from the three analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a buy rating and two have assigned a strong buy rating to the company. Unity Biotechnology’s rating score has improved by 6.4% from 90 days ago as a result of various analysts’ ratings changes.

Brokers have set a 12 month consensus price objective of $28.50 for the company and are expecting that the company will post ($0.30) EPS for the current quarter, according to Zacks. Zacks has also given Unity Biotechnology an industry rank of 82 out of 255 based on the ratings given to its competitors.

Several research firms recently issued reports on UBX. Zacks Investment Research cut shares of Unity Biotechnology from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. Mizuho began coverage on shares of Unity Biotechnology in a research note on Thursday, September 6th. They issued a “buy” rating and a $33.00 target price for the company.

NASDAQ UBX traded down $0.07 on Thursday, hitting $10.88. 77,100 shares of the company’s stock traded hands, compared to its average volume of 138,259. Unity Biotechnology has a 1-year low of $10.33 and a 1-year high of $24.56.

Unity Biotechnology (NASDAQ:UBX) last announced its quarterly earnings data on Thursday, August 9th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.38). As a group, equities research analysts forecast that Unity Biotechnology will post -1.19 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp purchased a new stake in Unity Biotechnology in the 2nd quarter worth $168,000. Citadel Advisors LLC purchased a new stake in Unity Biotechnology in the 2nd quarter worth $230,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in Unity Biotechnology in the 2nd quarter worth $301,000. Schwab Charles Investment Management Inc. purchased a new stake in Unity Biotechnology in the 2nd quarter worth $309,000. Finally, Dean Capital Investments Management LLC purchased a new stake in Unity Biotechnology in the 2nd quarter worth $543,000. Hedge funds and other institutional investors own 30.25% of the company’s stock.

About Unity Biotechnology

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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