Lion Biotechnologies Inc. (NASDAQ:LBIO) was down 3.4% on Thursday . The stock traded as low as $8.16 and last traded at $8.16, with a volume of 97,631 shares changing hands. The stock had previously closed at $8.45.

Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Lion Biotechnologies from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a research report on Tuesday, June 14th. FBR & Co restated a “buy” rating on shares of Lion Biotechnologies in a research report on Tuesday, May 10th. SunTrust Banks Inc. cut shares of Lion Biotechnologies from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $37.00 to $30.50 in a research report on Monday, June 6th. Finally, Chardan Capital restated a “buy” rating on shares of Lion Biotechnologies in a research report on Saturday, June 4th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Lion Biotechnologies has a consensus rating of “Buy” and a consensus price target of $19.50.

The company’s 50-day moving average price is $7.41 and its 200 day moving average price is $6.07. The firm’s market cap is $419.49 million.

Lion Biotechnologies (NASDAQ:LBIO) last released its quarterly earnings results on Monday, May 9th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.02. On average, equities analysts predict that Lion Biotechnologies Inc. will post ($0.76) EPS for the current fiscal year.

Lion Biotechnologies, Inc is a clinical-stage biotechnology company. The Company is focused on developing and commercializing cancer immunotherapy products designed to harness the power of a patient’s own immune system to eradicate cancer cells. The Company’s lead pipeline candidate, LN-144, is an adoptive cell therapy using tumor-infiltrating lymphocytes (TIL) to treat patients with refractory metastatic melanoma.

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