Xenetic Biosciences, Inc. (NASDAQ:XBIO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday. The firm currently has a $2.50 price objective on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 23.76% from the stock’s current price.

According to Zacks, “Xenetic Biosciences Inc. is a biopharmaceutical company. It develops biologic drugs, oncology therapeutics and vaccinations. The Company’s proprietary drug technology platforms include PolyXen (R) for the development of next generation biologic drugs and OncoHist (R) for the development of oncology drugs focused on orphan indications. Xenetic Biosciences Inc. based in United States. “

Xenetic Biosciences (XBIO) opened at 2.02 on Friday. Xenetic Biosciences has a 12-month low of $2.00 and a 12-month high of $5.90. The stock’s market cap is $17.61 million. The company’s 50 day moving average price is $2.61 and its 200-day moving average price is $2.61.

Xenetic Biosciences (NASDAQ:XBIO) last posted its quarterly earnings results on Monday, August 14th. The company reported ($0.34) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.13). On average, analysts forecast that Xenetic Biosciences will post ($0.89) EPS for the current year.

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About Xenetic Biosciences

Xenetic Biosciences, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the research and development of certain pharmaceutical products for use in humans that includes the use of the Company’s platform technologies that enables the creation of drug therapies primarily for orphan indications.

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