Lion Biotechnologies Inc. (LBIO) Sees Large Volume Increase
Lion Biotechnologies Inc. (NASDAQ:LBIO) saw strong trading volume on Monday . 334,080 shares traded hands during mid-day trading, a decline of 16% from the previous session’s volume of 396,722 shares.The stock last traded at $8.57 and had previously closed at $8.64.
Several equities research analysts have weighed in on the company. Roth Capital reiterated a “buy” rating and issued a $15.00 target price on shares of Lion Biotechnologies in a report on Saturday. Chardan Capital reiterated a “buy” rating on shares of Lion Biotechnologies in a report on Saturday, June 4th. FBR & Co reiterated a “buy” rating on shares of Lion Biotechnologies in a report on Tuesday, May 3rd. Zacks Investment Research upgraded Lion Biotechnologies from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a report on Wednesday, May 4th. Finally, SunTrust Banks Inc. cut Lion Biotechnologies from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $37.00 to $30.50 in a report on Monday, June 6th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $19.17.
The company’s market capitalization is $409.29 million. The firm has a 50 day moving average price of $7.50 and a 200 day moving average price of $6.05.
Lion Biotechnologies (NASDAQ:LBIO) last posted its quarterly earnings results on Monday, May 9th. The biotechnology company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.02. On average, equities analysts anticipate that Lion Biotechnologies Inc. will post ($0.73) earnings per share 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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